Katepally Karan Reddy and Jammu Umamaheswar Rao were running liquor syndicates in Nizamabad and Guntur districts respectively, an ACB official said.
The duo were arrested in connection with the cases pertaining to benami transactions in the liquor deals and were sent to judicial remand, he said.
The ACB on June 6 registered 22 cases relating to the fraud committed in auction of liquor shops in 15 districts and arrested 20 persons linked to liquor syndicates and four persons on June 11 for their alleged involvement in illegal liquor trade.
The drive was launched in January this year to expose the network allegedly involving liquor syndicates, excise department officials and politicians.
The investigations have so far revealed that the liquor syndicates were running the trade in the name of 'binamidars' (ostensible owners) as wine shops were allotted to Below-Poverty Line (BPL) families who have no financial resources to deposit huge amount for licenses.