Police have recovered over Â£2 million of counterfeit cash in an operation in the city centre.
Officers investigating a multi-million pound jewellery fraud stopped four men at the Portland Thistle Hotel in an proactive operation shortly after 2pm on Saturday 20 December 2014.
They were in possession of over Â£2 million of counterfeit Euros, around Â£50,000 of legitimate Euros and over Â£100,000 of high value watches.
The men were subsequently arrested on suspicion of fraud and remain in police custody for questioning.
Detective Inspector Rob Cousen from the Serious and Organised Crime Group at Greater Manchester Police said: “This type of crime causes a lot of harm to legitimate businesses and I hope the action this weekend reassures local businesses and residents we are committed to tackling organised crime in all its guises.”
Anyone who believes they have been a victim of fraud should contact police on 101.