Dru Baggaley, from the Gold Coast, was on board a boat authorities observed approaching a large foreign ship 360 kilometres off the Australian coast that retrieved several packages thrown into the water on the morning of July 31, 2018.
The boat was intercepted and 650 kilograms of cocaine, valued at up to $200 million, was found on board.
The two-time Olympic silver medallist, Nathan Baggaley, 45, was not aboard the boat at the time but the court heard he bought the boat and helped plan the crime.
The brothers pleaded not guilty to attempting to import a commercial quantity of a border-controlled drug, but were ultimately convicted by a jury after a two-week trial.
After about eight hours of deliberating, a Brisbane Supreme Court jury found both men guilty on today.
The footage shows officers with guns drawn in the middle of the ocean, the moment specialist police intercepted suspected drug importers they’d been tracking.
Baggaley won two canoeing silver medals at the 2004 Athens Olympics and also was a three-time world champion.
But his career was tarnished with drug scandals — testing positive for banned steroids in 2005.
He was also being jailed with his brother 10 years later for his role in a drug manufacturing syndicate.
They will remain in custody while they await sentencing.