Two people have been arrested and police have seized €2.5m in cash and 100 kilos of cocaine as part of an investigation into money laundering, the public prosecution department said on Tuesday.

The cash and drugs were found in Amstelveen. The investigation centres on the laundering of large amounts of money thought to come from the drugs trade, the department said.

The money was found stuffed in three large bags while the cocaine is said to have a street value of more than €3m.

A 41-year-old Irish national who lives in Amstelveen and a 49-year-old Lebanese man have been arrested and appeared before judges in Zwolle for a remand hearing on Tuesday.