TORONTO -- A 27-year-old Toronto man is facing 15 criminal charges after police allegedly located cash, drugs and a sub-machine gun capable of fully automatic fire during searches in North York this week.

Toronto police say that on Tuesday, officers conducted searches at two locations in North York; York Mills Road and Silverdale Crescent, and Beecroft Road and Sheppard Avenue, also searching two parked cars.

Inside, police allege they found $40,000 in cash, crystal methamphetamine, MDMA and cocaine, worth more than $128,000 on the street.

Investigators also allege they located two semi-automatic handguns and one sub-machine gun capable of "fully automatic" fire.

They also allegedly located two overcapacity magazines for the guns.

A man police identified as Salim Slammy was arrested and charged with 15 offences including possession of a prohibited firearm, possession for the purpose of trafficking and possession of the proceeds of crime.

Slammy appeared in court at 1000 Finch Avenue West on Wednesday morning.

Anyone with information is asked to call police at 416-808-3300.