The drugs were found on Tuesday in a house in the central neighbourhood of Lapa in Rio de Janeiro, including 93 doses of cocaine, 28 of crack and 13 40-calibre bullets, the use of which Brazil has outlawed, Xinhua news agency reported.
Beyond the Olympic logos, some of the drugs were also wrapped in bags featuring the logo of a well-known drink brand.
In recent years, Brazilian police have seized a number of drug shipments featuring the names and images of football stars or sports events.
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