Detectives from the Directorate of Criminal Investigations have seized fake $1 million and 147 gold bars hidden in a safe in Kilimani, Nairobi.
They have also arrested a number of suspects among them flamboyant personality Stephen Mark Oduk during the raid at the Plan 254 Club.
Mr Oduk, who also goes by the alias Lucas Mbadi, is a suspect in a number of cases in court involving fake gold and money laundering.
In May, Mr Oduk was among 16 men arrested at a house in Kilimani where fake gold and other contraband was confiscated. Eight high-end cars were also impounded in the raid.
After his arrest, Mr Oduk failed to provide the police with an identity card and only told the officers that his name is Stephen Mark.
In yet another case, Mr Oduk is accused of impersonation and kidnapping. On October 14, 2013, dressed as a police officer, Mr Oduk, was part of a gang in Nairobi that kidnapped two children of Indian origin -- Ahwal Kaul Mahjan and Abhita Kaur Mahjan.
The five-member gang included a police officer who has been interdicted for stealing millions from an ATM machine in Nairobi.
According to detectives, Mr Oduk will also be questioned over obtaining money with false pretence.