Australian Border Force, ABF, Victoria Police and Australian Taxation Office, ATO, officials raided a property at Broadford on Tuesday last week.
A passer-by reported seeing several vehicles, including police cars, arrive at the property on Mia Mia Road at about 9.30 am.
A Victoria Police spokesperson confirmed police assisted the ATO and ABF with a warrant in Broadford.
An ABF official confirmed that an investigation was underway but gave no further comment.
When the Review attended the property shortly before 12pm most of the vehicles had left but ABF officials remained on site.
A crane and another heavy vehicle were seen entering the property at about the same time.