Two brothers of Kings Cross club owner John Ibrahim have reportedly been arrested in Dubai over an alleged drug smuggling syndicate.
NSW Police and Australian Federal Police conducted a series of dawn raids across Sydney on Tuesday morning.
The searches related to "a number of separate, ongoing criminal investigations", an AFP spokesman said.
"Some of these relate to AFP investigations; some of these relate to joint agency investigations," they said in a statement.
The AFP declined to confirm reports the raids were not terror-related, and refused to confirm reports Michael and Fadi Ibrahim were arrested in Dubai in relation to one of the stings.
Fairfax Media reports the two are among 14 people arrested, also including underworld figures Mustapha Dib and Rock Ahmad, and more than 25 homes have been searched.
John Ibrahim's Dover Heights home was targeted, along with properties in Vaucluse, Bellevue Hill, Bankstown, Punchbowl and Arncliffe, The Daily Telegraph reported.