Detectives arrested Robin James Taylor, 55, on Thursday following a five-month investigation which culminated in raids on his business, Melbourne Sports Medicine and Anti-Aging Clinic in Moonee Ponds, his home and a factory.
He was charged with several offences including trafficking a commercial quantity of drugs and steroids, and possessing the proceeds of crime.
Prosecutors alleged in Melbourne Magistrates Court on Friday that Taylor was behind an "elaborate illegal scheme" selling human growth hormones, steroids and other drugs under the guise of being a medical practitioner.
Detectives allegedly found hundreds of vials of testosterone during the raids and seized $700,000 cash from a safe at the Somerton factory, in the city's north, and 17 luxury cars with a combined value of about $3 million, the court heard.
The luxury cars include a Corvette, Lamborghinis, Holden Toranas and a Holden Commodore VK SS Peter Brock.
Detectives also allegedly found a prescription book pre-signed by a legitimate NSW-based doctor who received $2000 a week in exchange for the business using the pre-signed prescriptions, prosecutors told the court.
There were also label printers found in a "dispensary room" and certificates that appeared to be expired or fake, prosecutors alleged.
Police successfully fought against Taylor's application for bail, with Senior Constable Alana Meachem saying the 55-year-old had a friend who took him to lunch in a helicopter.
"The accused has amassed extensive wealth and, as such, will be a flight risk," Sen Const Meachem told the court.
"He has other means of being a flight risk rather than just going to an airport."
Along with his luxury cars, Taylor had a number of expensive items including a $250,000 Louis Vuitton dining table and chairs, Sen Const Meachem said.
Taylor's barrister John Dickinson KC argued that his client had his wife, children and long-time business in Australia and was not going anywhere.
The court heard that Taylor had previously served jail time for similar offending and was on a three-year suspended sentence for trafficking testosterone at the time of his arrest.
Mr Dickinson acknowledged his client's "chequered" past, but claimed there were flaws in the case and denied Taylor was a flight risk.
He noted police had failed to get statements from 12 people they claimed went into Taylor's business and came out with blue plastic bags, which they alleged was evidence of trafficking.
"Its a big thing, Your Honour, to lock somebody up for two years when they're presumed to be innocent and the prosecution case appears to have significant flaws," Mr Dickinson said.
Magistrate Peter Reardon conceded a lot of the case appeared based on suspicion and speculation, but stressed the matter was still in its infancy.
He noted Taylor was not qualified to possess or traffic drugs of dependence, and earlier questioned why he previously had three different names, which the accused attributed to family reasons.
Mr Dickinson said: "There's never been any issue with him being the proprietor of the business."
Taylor had a history of using false documents, the court was told.
The magistrate also earlier questioned in court whether "too many people running health shops would ... have those sorts of cars", and noted Taylor was in jail for three years at a time when he was supposedly still running the business.
Mr Reardon denied Taylor's bail application but said that did not mean his chances of conditional freedom would be nullified as the case progressed.
He is next due before the court on June 21.
