A Vietnamese man was arrested Tuesday night when 10 rhino horns were found in a raid on his flat in Bedfordview on the East Rand.
Colonel Vishnu Naidoo said police, Ekurhuleni metro police and home affairs officials raided the flat on a tip-off.
He said they recovered 10 rhino horns, worth between R12m and R15m, one elephant tusk, gold jewellery, and huge stacks of money.
Naidoo said the cash must have amounted to millions and that a lot of it was in US dollars.