The accused was identified as K Suresh Kumar, the anti-graft agency said.
"Jayaprakash had approached the employment officer to transfer the R-card of his father in his name. But Suresh Kumar sought Rs 1.5 lakh from him to complete the task. R-cards are given to the displaced families, whose lands were acquired for the development of Visakhapatnam steel plant," ACB DSP K Ramakrishna Prasad said.
After complainant's tip-off, a trap was laid and Suresh Kumar was caught accpeting the money from the complainant at the exchange.
The residence of the accused and other places are also being searched, the officer added.