Nearly $500,000 was seized Monday as an investigation into reports of gambling and corruption continued in this Wise County town, authorities said. “Right now, $500,000 in liquid and cash assets have been seized,” Special Prosecutor Tim McAfee said. “This isn’t chump change.” Eleven seizure warrants were issued for a handful of bank and investment accounts. Some of the warrants also covered cash in safe deposit boxes, he said. McAfee said the seizure warrants resulted in $220,000 in cash and other assets and $225,000 in investment accounts. The raid, which began Saturday, stems from an investigation late last year into allegations of irregularities in the 2004 town election. Prosecutors claim 14 town officials and residents conspired to rig the race so they could benefit from illegal activities. In late January, a 300-page indictment was returned by a grand jury. The town’s mayor and a councilman were among those indicted on election fraud charges. On Saturday, Virginia State Police joined McAfee in a raid of three buildings along Main Street that authorities said have been used for gambling. No arrests were made. Police said they discovered tip boards, cash and gambling tables during the raid. The buildings were seized. McAfee said Monday that some “public persons” in town received money to keep police away from the gambling operations. Some current and past town officials were frequent visitors, he said. Also on Monday, McAfee filed a motion in Wise County Circuit Court asking a judge to revoke the bond of Mayor Ben Cooper. Cooper was indicted earlier on voter fraud and conspiracy charges. A search of Cooper’s home on Saturday revealed a gun and ammunition, which violates Cooper’s bond, according to McAfee. A bond revocation hearing has been set for Friday. Prosecutors discovered after a background check that Cooper was convicted of domestic assault in Florida, McAfee said. Under the bond, that conviction would prohibit the mayor from having a firearm, he said. The investigation could conclude by the end of June and may then go to a grand jury, McAfee said.