Several weapons were also found during the operation, known as Aguila Negra II.
The National Anti-drug Secretariat announced that all suspects were Paraguayan while the cocaine was most likely from Bolivia or Peru.
The nearly two-ton seizure occurred near the border with Brazil, according to The New Zealand Herald.
2010 diplomatic cables leaked to WikiLeaks labeled newly-elected Paraguayan president Horacio Cartes as the head of a drug trafficking and money laundering organization. International police have indicated that the west coast of South America is playing an increasingly important role in drug trafficking to Europe.  Cartes denies allegations of criminal activity, although his uncle Juan Viveros Cartes was arrested in July for alleged drug smuggling. Cartes said that his uncle ought to be treated the same as any other suspect and that family connections will not protect him.