Matthieu Anthony Rees, 44, and Rachid Kachour, 55, both from Griffith in the ACT, were arrested at their apartment on Thursday as part of an investigation into a quarter-tonne of cocaine seized from a yacht moored in Townsville.
Police say one of the men threw a backpack containing $290,000 cash in a vacuum-sealed bag from the apartment balcony when the officers knocked on the front door.
The Australian Federal Police alleges the cash was the proceeds of crime and both men travelled to Townsville from Canberra in May to recover cocaine hidden inside the yacht's hull.
Rees and Kachour appeared in the ACT Magistrates Court on Friday before being extradited to Brisbane on Saturday, and appeared before Brisbane Magistrates Court on Monday.
Both men were charged with importing a commercial quantity of a border controlled drug and dealing in the proceeds of crime worth $100,000 or more.
Kachour was also charged with failing to comply with an order to provide access to digital devices.
Both defendants were not required to appear in person.
Rees' solicitor, Ella Scoles, said her client was not making an application for bail and sought an adjournment until September.
Kachour's Legal Aid solicitor, Axel Beard, said his client was seeking private representation and sought an adjournment to tomorrow.
Acting Magistrate Athol Kennedy adjourned Rees' matter to September 1 and ordered Kachour's matter be heard again on Tuesday.
Commonwealth prosecutor Brianna Finnegan said a partial brief of evidence might be disclosed to the defendants during the next six weeks.
The AFP has alleged the yacht containing cocaine arrived in Townsville in April after sailing from Vanuatu.
Australian Border Force and AFP officers impounded the vessel after an initial search.
Officers found minor anomalies with the hull after taking the vessel out of the water and allegedly found 247kg of cocaine hidden in enclosed sections.
The AFP and ABF worked with Queensland Police during the investigation.
AFP Detective Superintendent Adrian Telfer said the cocaine found in the yacht had an estimated street value of $61,750,000.
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