More than $120,000 in cash was seized and a 43-year-old man charged after police swooped on a Gowrie residence and an automotive business in Fyshwick on Friday.

In early December police began investigation into the alleged importation from the US of a significant amount of drugs destined for the ACT.

During the searches, police seized more than $120,000 in cash, and about 243 grams of cannabis.

The Gowrie man has been charged with possession of property suspected of being the proceeds of crime and possessing cannabis.

Police say investigations into the drug importation are continuing with further search warrants expected to be conducted in the ACT and surrounding district.