Winnipeg police have said several people in both the Winnipeg and Brandon areas were approached by the fake officers, who would tell them they were a potential suspect in a police investigation.
The suspects then seized valuable such as wallets, cash and credit cards.
36-year-old, William Edward Thomas of Thunder Bay, Ontario was arrested in Brandon and is facing 43 charges including impersonating a peace officer, extortion, theft and fraud.
The second suspect, 34-year-old Matthew Adam Bartel is still wanted by police.
It is suggested that anyone with information in regards to the whereabouts of Bartel to phone Crime Stoppers.