Personnel of Accra North-East Divisional Police Command in Madina have arrested four people for allegedly printing large quantities of fake Ghana cedis and dollar.
The suspects are Joseph Sarfo 26, a graphic designer and ring leader of the syndicate, Frank Owusu 28, Appiah Kubi 30 and Stephen Kofi Nortey Commey 19.
Chief Superintendent of Police Paul Ayittey and Divisional Commander told Ghana News Agency that the suspects were arrested at Ayi Mensah and Asylum-Down in Accra upon a tip-off.
He said during a search in their premises, the police retrieved two lap top computers, a canon ink jet printer, thirteen ink cartridges, five hard discs, money wrappers, rolls of red and silver foils used in printing security features, quantities of printed fake currency notes in GH¢20, GH¢10, GH¢5 and 100 dollar denomination all bearing the same serial numbers.
Chief Superintendent Ayittey said the police found a British manufactured pistol with two live ammunition and live "AA" ammunition for a single barrel gun.
He said Sarfo confessed being involved in the business for the past two months and circulated large quantities of fake Ghana cedis in the country.
Chief Superintendent Ayittey said the suspects would be prosecuted after investigations.