The Wall Street Journal says 38-year-old Andrew Strempler appeared Thursday in a federal court in Miami.
It says he could face up to 20 years in prison for each of the three charges against him.
The Journal quotes a court clerk as saying that Strempler is expected to be arraigned next week.
The report said Strempler's former company, RxNorth.com, sold and shipped fake and otherwise misbranded drugs to American customers under the false pretense that the products were safe and legal.
It said the sales occurred between early 2005 and the summer of 2006.