The six-month investigation began when Transit Police started noticing good quality counterfeit Ministry of Social Services and Housing transit passes being used.
Police allege the passes were being made to order in the buyer's name, mostly in Vancouver's Downtown Eastside.
A sting operation resulted in the arrest of two suspects and the seizure of computers, laminators, printers and several dozen pre-made passes ready for sale.
Transit Police estimate the loss of revenue at more than $200,000.
Jamie Stuart Richardson, 47, has been charged with five counts of forgery and five counts of uttering a forged document.
Daniel Blair, 65, has been charged with dealing in a forged document, uttering a forged document, forgery and possession of a forged document.