Detectives on Wednesday night raided Plan 254 Club in Kilimani, Nariobi where they seized fake US$1 million and 147 fake gold bars.
The counterfeit items were found in the club's store alongside 3,000 black notes of US$100 dollar bills and four portable safes that were locked.
The officers, who were drawn from Directorate of Criminal Investigations (DCI) in Parklands, Nairobi also arrested the owner of the club, Mr Stephen Mark Oduk.
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Mr Oduk spent the night at the Parklands Police Station and is set to be arraigned on Thursday, September 26.
The DCI detectives told K24 Digital that they were acting on a tip-off.
Plan 254 is located on Nyangumi Road in Kilimani.