CAPITAL REGION — State police arrested five people in Troy and seized more than $50,000 worth of counterfeit handbags and jewelry after an eight-month investigation.

Susan Minahan 47, and her husband, William Minahan, 61, of Troy, had been operating a business called “Finds & Treasures by Susan,” which sold counterfeit pocketbooks and jewelry to area residents, according to police.

State Police Lt. John Durling said police began an investigation after receiving a tip. They conducted search warrants at four locations in Troy on Thursday and seized five vehicles, business and financial records, more than $6,000 in cash and several hundred counterfeit handbags and jewelry with an estimated retail value of more than $50,000.

During the eight-month investigation, state police purchased counterfeit products purported to be Tiffany jewelry, Rolex watches, and handbags by Chanel, Louis Vuitton, Burberry, Kate Spade, Gucci, Prada and Coach.

These real designer products can cost thousands of dollars, but counterfeit products — which look similar — are very popular and sold on the streets of New York City and other big cities at greatly discounted prices.

Buyer beware, said Durling.

“If someone is selling you an $800 pocketbook for $50, you should question why you were getting such a good deal,” he said.

Police said the Minahans and several women who assisted them conducted a “Pocketbook Party” business that sold thousands of counterfeit items to area residents.

“It’s not uncommon. They conducted pocketbook parties in a residence just like they would have a Tupperware party or other type party,” said Durling.

Police said Susan Minahan had been illegally purchasing her merchandise from street vendors in New York City or having it shipped to her.

They said Minahan and her family members illegally laundered in excess of $350,000 through personal bank accounts and avoided banking regulatory authorities.

The Minahans, of 590 Fourth Ave., were each charged with second-degree trademark counterfeiting and fourth-degree money laundering. They were arraigned in Troy City Court and posted $25,000 bail or bond each.

Also arrested were:

*  Janet Harder, 37, of 199 Sixth Ave., who was charged with second-degree trademark counterfeiting. She was arraigned in City Court and posted $25,000 bail and released.

*  Nancy Degnan, 59, of 3 Pine Grove Lane, was charged with fourth-degree money laundering. She was arraigned in City Court and bail was set at $25,000.

*  Kathleen Bowman, 56, also of Pine Grove Lane, was charged with fourth-degree money laundering and issued an appearance ticket returnable to City Court today.