A sophisticated cannabis crop has been dismantled, with police seizing thousands of cannabis plants worth $15 million.

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Police executed multiple search warrants on Tuesday at a home in Keysborough, and an eight-hectare property in Devon Meadows, in Melbourne's southeast.

Officers chased eight suspects who fled the large property as police arrived.

All eight suspects were arrested, with five men aged 26-49 charged with multiple offences including cultivating a large commercial quantity of cannabis.

They appeared in Melbourne Magistrates' Court

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