The ring allegedly operated through a Port Melbourne Gym, with two men, 27 and 32, buying drugs from an overseas supplier and on-selling them to hundreds of gym junkies, police claim.
The seven-month investigation, in collaboration with the ACT Police, came to a head when five properties were searched on Friday.
One search warrant of a Docklands apartment led to the discovery of multiple drug distribution sites, with millions in illegal steroids and medication found, as well as label makers and over $130,000 in cash.
An additional search of a Port Melbourne Gym uncovered more illegal steroids, while a search warrant carried out at a fifth property in Flemington, found $45,000 in cash and illegal steroids.
“What caught our attention is that they’re allegedly selling drugs to organised crime figures and not only profiting heavily from it but also facilitating their luxury lifestyle,” Detective Inspector Patrick Watkinson said.
“The community may think dealing with performance-enhancing drugs is harmless but we’re looking at the bigger picture here – which is to target all aspects of organised crime including the people associated with it.
“We want this to send a message to those associating with people who have links to organised crime.
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“If you’re connected – even in the slightest way – the chances of your activities being detected is increased.”
While police don’t yet know the full value of the drugs due to the large quantity, it is estimated to be worth millions.
Further charges are expected to be laid once authorities know the exact quantity seized.
Both men were charged with several offences, including trafficking a commercial quantity of prescription medication, trafficking anabolic steroids, trafficking diazepam and knowingly deal with the proceeds of crime.
The men will appear in Melbourne Magistrates’ Court today.
A third person, a 37-year-old woman, was also arrested on Friday morning and has been charged with possession of methylamphetamine.