Gold, cash seized from engineer's bank lockers

Published: 12th August 2016 05:01 AM  |   Last Updated: 12th August 2016 05:01 AM   |  A+A-

VISAKHAPATNAM: Continuing the raids on the accused assistant executive engineer of Greater Visakhapatnam Municipal Corporation (GVMC) KVV Madhav Rao, the ACB officials opened the two bank lockers belonging to the tainted officer on Thursday.

Rao was arrested on Wednesday for amassing wealth disproportionate to his known sources of income.

They recovered silver articles worth Rs 1 lakh from one locker and 266 gm of gold ornaments from the second locker. The extent of the oil palm plantation at Devarapalli is 10.14 acre.

ACB DSP Kinjarapu Ramakrishna Prasad said the net worth of documents and properties seized has gone up from Rs 2 crore to Rs 2.36 crore and their market value is estimated at Rs 12 crore.

The accused was produced before the ACB Special Judge and was sent to 14-day remand.

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