Visakhapatnam, Aug 10: The Anti-Corruption Bureau today arrested an assistant executive engineer working with the Greater Visakhapatnam Municipal Corporation, K V Madhav Rao, for amassing wealth disproportionate to his known sources of income.
An ACB team led by DSP K Ramakrishna Prasad conducted raids at eight locations simultaneously in and around Vizag city, including Rao's house at Daspalla Layout, four houses belonging to his brother and sister at Dabagardens, and houses of his driver and a friend.
Several property documents, including those related to flats in Daspalla Layout, Pendurthi and Yendada, and plots at Bheemili, Kothavalasa, Chemmudapalle and Daba Gardens were seized. He, allegedly, also owns four houses at Daba Gardens.
"We also seized documents related to an 8-acre farm land, half-an-acre plot at Devarapalle, 200 gms of gold and Rs 50,000 in cash. We will open two bank lockers tomorrow and as per the estimates, official value of the seized property has exceeded Rs two crore and the market value could be about Rs 15 crore," DCP Prasad said.
Madhav Rao was also a director of the 'Ponzi' Group Agri Gold, the police officer said.