Milk millionaire Ken Lacey has been charged 2 and a half years prison over cocaine possession by a Gold Coast judge yesterday.

Lacey pled guilty to five charges including unlawful use of a motor vehicle drug supply and drug possession of 13 bags of cocaine with the street value between $12,000 and $18,000.

Lacey made his fortune distributing milk in Victoria, and became the biggest private distributor of milk in Australia operating over 50 milk runs.