Two arrested, assets worth 5 lakh seized

Vijayawada: City police arrested two persons and seized assets worth Rs 5 lakh on Tuesday. According to city police, A Venkata Ramana a resident of Sanjay Gandhi colony in Visakhapatnam and N Vinay Kumar of Hyderabad were arrested. 

City police said that Venkata Ramana was allegedly involved in many offences in Vijayawada, Visakhapatnam, RajamahendravaramEluru and Guntur. City Crime Station (CCS) police have arrested the accused Ramana at Benz Circle on Tuesday and seized valuables worth Rs3 lakh. 

Three cases were booked against him at Singh Nagar, Satyanarayanapuram and Nunna Rural police stations. 
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In another case CCS police arrested Vinay Kumar at Kaleswara Rao Market and seized assets worth Rs 2 lakh. Interestingly, Vinay Kumar did his post graduation in finance and worked in corporate companies like Satyam and Infosys.

Later, he started his own company and failed to run successfully. So, he started offences and involved in thefts since 2014, said the city police in a statement.