Detectives have seized 17 luxury cars and almost $1 million in cash as part of their investigation into a man allegedly selling medication illegally out of a business in Melbourne’s northwest.

Officers on Thursday raided the business at Moonee Ponds, where they allegedly found a large amount of illegal prescription medication including steroids and human growth hormones.

The raid followed a five-month investigation and detectives arrested the 54-year-old alleged business owner at a factory at Somerton in Melbourne’s north a short time later.

Police searched the factory and seized $950,000 in cash, along with 17 luxury cars including two Lamborghinis, a Porsche, a Corvette and a Mercedes-AMG.

They also seized six Holden Toranas including a VK SS Peter Brock valued at $1 million.

Officers alleged the cars, which had a combined value of about $4 million, were the proceeds of crime.

Detectives charged the man, from Yarrambat in Melbourne’s northeast, with several offences including trafficking a commercial quantity of prescription drugs, trafficking a commercial quantity of steroidal agents and trafficking testosterone.

He was due to face Melbourne Magistrates Court on Friday.