Police in Berekum in the Brong Ahafo Region have arrested 60 year old Emmanuel Elvis Aboagye Manu, President of Ghana Susu Co-operatives Association and four others on suspicion of dealing in counterfeit currency.
The four are Amponsah Kuffuor, Kofi Boadi, Philemon Hayford, driver, and Abu Bukari Issah, a citizen of Burkina Faso.
They are all in custody pending further investigations into the case.
Chief Superintendent Lord Obeng-Mensah, Berekum Divisional Police Commander, briefing newsmen in his office on the arrest said acting upon a tip off the five men were arrested at Seko Guest House in Berekum.
He said a search in the vehicle the five were using, a Nissan Pajero with registration number GT 5287 W which had been allocated to the Association for a World Bank project, revealed a box containing black papers neatly cut into the size of currency notes and a sealed bottle that the suspects claimed contained mercury.
The commander said the police suspected the suspects used the fake currency notes to defraud unsuspecting persons in a money-doubling hoax.
Chief Superintendent Obeng-Mensah appealed to the general public to continue to volunteer information to the police who would swiftly act to nip in the bud any criminal act.