The accused, Inspector of Fourth-Town Police Station, K Balakrishna, was arrested after the ACB conducted raids at various places in the district, ACB said.
"Simultaneous raids were conducted at eight places, including five in Visakhapatnam city that includes his house and police station, two places in Vizianagaram and his relative's house at Kovvuru in West Godavari district," DSP of ACB (Visakha Urban) K Ramakrishna Prasad said.
As per ACB's initial assessment, the documents seized from the house of the inspector and from other places, suggest that Balakrishna had amassed wealth to the tune of about Rs 20 crore and some documents in the name of his mother-in-law and family members, he said.
Bank deposits and investments in insurance schemes worth Rs 5 lakh, 250 gm gold and two kg silver ornaments, were also found by the ACB.
Before being posted at the Fourth-Town Police Station, Balakrishna had served as a Traffic Police inspector of Madhurawada division in Visakhapatnam.