Detectives swooped as the suspected smugglers took the 12 kilos of cannabis out of the blue, English-registered BMW on Saturday evening after it arrived on a ferry from the UK.
Police said the arrests were made as the drugs were being handed over to a third party.
A pensioner and three other men, one from Jersey, have been arrested and charged with importation or possession with intent to supply in relation to the seizure.
Donald Goodman (67), from Essex, Mark Wiltcher (32) and Daniel Hennessey (31), both from London, and James Fitzgerald (52), from Cork, who lives in Jersey, were due to appear in the Magistrate’s Court this morning.
