James “Jimmy” Blee, 62, was arrested as he attempted to board a flight to Singapore at Cairns Airport on Wednesday afternoon.
Blee was then charged with the federal crime of importing a large commercial quantity of a border controlled drug and the NSW crime of large commercial drug supply.
Blee was denied bail at Cairns Magistrate Court today.
NSW Police successfully applied for his extradition back to the state earlier today.
He arrived in Sydney this afternoon and will face court tomorrow.
Blee is the co-founder of a company that operates tours and cruising plans for superyachts in North Queensland.