Three homes in East Belfast were raided by the paramilitary crime taskforce on Friday evening.
Police travelled in convoy to one end terrace in Dundonald, where officers announced their presence as they gained entry through the open door while simultaneous searches were carried out at two other properties in the area.
Suspected Class A and Class C drugs were uncovered along with a "significant" sum of cash across the operation as a whole.
A man, aged 40, has been arrested on suspicion of a number of offences and two women are to be reported to the PPS.
DI Hamilton was co-ordinating the operation for the PSNI.
He told Belfast Live: "Today's operation was the latest into suspected drug criminality linked to East Belfast UVF.
"As a result of the searches a 40-year-old male has been arrested on suspicion of possession with intent to supply a Class A drug and being concerned in the supply of a Class A drug after a suspected amount of cocaine, cutting agents, deal bags and scales were recovered at an address in the Dundonald area.
"A female has also been reported to the PPS for [suspected] possession of a Class A drug."
He said two further properties were searched. At one of those properties a "significant amount of cash" was recovered along with suspected Class C drugs.
He explained: "There were two other searches conducted in the Dundonald area. At one of the addresses a significant amount of cash and suspected Class C drug were recovered and a 31-year-old woman will be reported to the PPS (Public Prosecution Service)."
DI Hamilton has urged the public to come forward with any information that could reduce drugs in their community.
He said: "Today's operation shows our ongoing commitment to reduce the harm caused by drugs in our community and to address the issue of people using the guise of people using paramilitarism to prey on vulnerable people, but are no more than ordinary criminals moving drugs in the community.
"We would urge any members of the public with information to come forward using 101 or anonymously through Crimestoppers on 0800 555 111.
"We will continue to listen to the community and act on any information that they provide us."
