Two men face multiple charges after police found a credit card manufacturing lab concealed in a southeast Calgary basement.

A financial institution in the city reported a spike in fraud activity in January, prompting a four-month investigation by the Calgary Police Service economic crimes unit.

Acting on a search warrant in the southeast community of Mahogany, officers say they found equipment used to manufacture credit and ID cards with hundreds of counterfeit credit cards as well as skimming machines in a hidden room in the basement.

Investigators also seized over 500 grams – $60,000 in street value — of MDMA, $16,000 in cash and more than $20,000 worth of stolen property, police said.

The investigation continues and numerous additional charges are pending, police said.

Two men in their 30s have court appearances on May 7 and May 20.