Drug Bust On Rick Ross Yacht Averted

A rep for the Florida Fish and Wildlife Conservation Commission (yes, they can arrest you) tells us officers flagged down Rick's boat on Thursday after noticing the odor of weed.

We're told cops boarded the water vessel and conducted a search ... but found nothing.

Now get this ... cops tell us one of Rick's homies ADMITTED to smoking weed onboard the ship ... but claimed he threw the dope overboard when he noticed the officers.