Drug investigation yields one of largest cash seizures in Revere police history

REVERE, MASS. (WHDH) - Revere police say a recent drug investigation resulted in the arrest of Winthrop man and one of the largest cash seizures in the department’s history.

Peter Degan, 62, was arrested Wednesday in Revere. Authorities say a subsequent search of his Winthrop home netted over two kilos of cocaine and materials used for the packaging and distribution of narcotics. More than $725,000 was also recovered and seized.

Revere Police Chief James Guido says the investigation was part of “Operation Waterfront,” which was established to target narcotics dealing in local bars in the Shirley Ave. and Revere Beach area.

“I want to commend our Narcotics Division for their hard work on this operation. I would also like to thank our law enforcement partners for their assistance during this investigation. This case exemplifies that our officers are working diligently to keep our streets safe,” Guido said.

Degan is charged with seven counts of distributing cocaine and one count of trafficking cocaine. He is slated to be arraigned Thursday in Chelsea District Court.

Winthrop police and the Suffolk County Sheriff’s Department assisted Revere police with the investigation.

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