A man accused of conspiring to import 1.2 tonnes of cocaine said it "sounds a bit f---ing suspicious" upon learning his shipping container was missing, a court has heard.
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The container had actually been seized by authorities, who allege $1.5 billion worth of the drug was hidden inside.
The jury trial of Tristan Egon Sebastian Waters, 39, and David Edward John Campbell, 55, continued in Sydney's Downing Centre District Court on Wednesday.
The Canberra region businessmen, along with co-accused Rohan Peter Arnold, allegedly attempted to import 1.28 tonnes of cocaine.
They were arrested in Belgrade, Serbia in February 2018 after a nine-and-a-half-month police investigation spanning several countries.
Campbell has pleaded not guilty to conspiracy to import a border-controlled drug, and conspiracy to possess a border-controlled drug.
Waters has pleaded not guilty to conspiracy to import a border-controlled drug, and guilty to conspiracy to possess the drug.
It is alleged the pair were involved in importing a shipping container of steel from China in March 2017.
The container had allegedly been sent to Solutions 4 Steel, of which Campbell was director at the time.
On Wednesday, some of Campbell's intercepted phone calls were played to the jury.
One call was made to Campbell from an employee at a cargo logistics company on April 3, 2017.
The employee had alerted Campbell that one of two shipping containers had "been misplaced".
Campbell responded: "You are f---ing kidding me."
He then asked if it was common for containers to become lost, saying it "sounds all a bit f---ing suspicious".
The employee said it might take three or four days to find the missing container.
It would end up being "missing" for months, as police had seized the container two days earlier after allegedly finding steel posts containing cocaine inside.
Campbell made a call, which was also tapped, to a friend shortly after finding out about the lost container.
"The boys have lost one of me containers," he said.
"I've only been bringing in steel for 10 years, and no one's ever lost one before."
In another phone call with the logistics company, Campbell had said: "The one that's gone missing is the container I need, mate".
"I f---ing need it urgent."
The company employee had responded it was "Murphy's law".
During opening addresses last week, Crown prosecutor Sean Flood alleged that in October, 2017, an undercover police officer using the alias "Henry" got in contact with Campbell, saying he had the lost container in New Zealand.
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Later that month, the Crown alleged, Campbell met with Henry and another undercover officer to work out a "finder's fee".
By January 2018, Mr Flood claimed Campbell, Waters and Arnold arranged to meet with undercover police in Serbia to hand over money in exchange for the cocaine. Serbian authorities then arrested them.
Campbell's barrister, Ronald Driels, previously told the jury his client only participated because he was "acting in duress" with his life under threat.
Waters' barrister, David Dalton SC, had argued his client was also under duress.
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