The currencies, which were in the GH₵50, GH₵10 and GH₵5 denominations, were bundled and mixed with papers cut in the sizes of the notes packed in a suit case.
The suspects, Larry Salifu and Mahama Karim, both 38 were arrested upon a tip off at a hotel at Dichemso in Kumasi, where they had lodged to conduct their nefarious acts.
The two had been advertising themselves as powerful jujumen who could make people rich overnight through what is popularly known as ‘sika duro’.
Also retrieved from them was a bag full of items suspected to be relics of fetishes used to deceive their victims that they were ‘jujumen’.
Briefing the press, the deputy Ashanti regional commander of Police, Assistant Commissioner of Police (ACP) Mr Osei Ampofo Duku, said on Tuesday, the police had information that two people had lodged at the hotel in Dichemso, carrying bags suspected to contain contraband goods.
He said the police dispatched a team to the hotel and while the police officers were enquiring about the suspects, Salifu, was seen carrying one of the bags and upon seeing the police, took to his heels.
He said the police pursued him and with the assistance of some mechanics around, they arrested him.
He said when he took them to his room, the police found another bag containing the fake currency notes and totems.
According to ACP Duku, the police picked up the receptionist and two other men who were working with the suspect.
He said it was during the arrest that the two other suspects pointed to Mahama, as the one who came to book the room for Salifu.
The other two suspects in addition to the hotel receptionist have since been granted police enquiry and are assisting the police in their investigations.