Major speed and steroid manufacturing ring busted in Australia.

Police allege the main players in a multi-million dollar mafia-style crime ring have been arrested after raids across NSW and Victoria.

Nine men have been arrested after more than 200 police officers in bullet-proof vests raided 19 properties in NSW and Victoria on Wednesday.

Police said most of the men were related and of Italian descent, forming part of an organised entity working under an hierarchical family structure.

Organised Crime Squad Commander Arthur Katsogiannis told reporters that police had seized millions of dollars worth of drugs, including amphetamines and steroids, as well as a pill press and other drug manufacturing equipment.

Firearms and ammunition were also seized.

The men arrested lived ‘very comfortably’ and were connected with a number of legitimate businesses, he said.

About 6am (AEDT) on Wednesday, 14 properties in NSW and five in the Victorian city of Mildura were searched, resulting in the arrests of nine men, aged between 27 and 69, in homes in south and southwestern Sydney.

Police said investigations were continuing and a number of people were assisting Victoria Police.

The nine arrested men were expected to be charged later on Wednesday.

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