Detectives executed three search warrants in the Echuca area this morning resulting in the recovery of four allegedly stolen boats and a caravan.
A 44 year old man was arrested at a business address on Bilkey Court while a woman, aged 29, was arrested at a private home on Wharparilla Road.
Two of the boats were allegedly stolen from Bundalong and enquiries are still ongoing in relation to the ownership of the two other boats and the caravan.
The estimated value of the property is in excess of $500,000.
The man and woman are expected to be interviewed later this afternoon.