Police said the helicopter was on routine patrol when the officers spotted a go-fast boat operating at a high rate of speed.
According to police, a chase then ensued, and once the helicopter caught up with the boat, officers noticed the occupants were attempting to sink the vessel, but it capsized.
Officers said they arrested two Bahamian males, who are believed to be in their early 30s, and confiscated the drugs, which have an estimated street value of $238,500.
Police said one suspect is believed to be a resident of Ragged Island, and the other a resident New Providence.
The men were expected to appear in court on Friday to face charges in relation to the incident.
By: Stephen Gay, The Bahama Journal