Lokayukta police sources said information was gathered during raids about the mobile and immobile properties valued at Rs two crore of assistant excise commissioner Jagdish Rathi.
During the raid in Indore, Rs 14 lakh cash, gold jewellery worth Rs 20 lakh and silver jewellery worth Rs 12 lakh were recovered, they said.
Rathi had joined as the assistant excise commissioner in Sagar about three months back.
His house and office there have been sealed.
A case has been filed against Rathi under the Prevention of Corruption Act and a valuation of his property is going on, sources added.
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