The Bedford County Sheriff's Office just released information regarding what the search is about.
According to Major Ricky Gardner, the case began Tuesday, when the sheriff's office received a report of suspicious activity at Fink's Jewelers at 16960 Forest Road.
Maj. Gardner says surveillance was set up on the location, and on Wednesday afternoon at 2:20 p.m., investigators spotted a maroon Nissan Altima with North Carolina license plates in the area of the jewelry store.
Officers saw a woman get out of the car, and go into the Bank of the James location at 17000 Forest Road.
The driver of the Altima then parked in a nearby business' parking lot.
Officers say the woman came out from the bank, and walked toward where the Altima was parked. However, the driver sped off before the woman got to the car.
Investigators chased after the Altima onto Forest Road, then on Enterprise Drive. Officers lost contact, citing heavy traffic.
Investigators later found the Altima in the Wyndhurst area of Lynchburg. Maj. Gardner says the car was still running, and the passenger side door and trunk were open.
Deputies say both men were seen wearing blue jeans. One had one a black and red cap, while the other had on a Charlotte Hornets cap.
Maj. Gardner says charges are pending against the woman.
The investigation is ongoing.
From WSLS 10's Morgan Donnelly, in the field
Lynchburg Police say the search is a joint operation with the Bedford County Sheriff's Office.
Still no word about what the suspects are wanted in connection with.
Lynchburg Police are using a helicopter to search for two suspects in the Wyndhurst area of the city, according to the city's Department of Emergency Services.
Police would not tell WSLS what the suspects are wanted in connection with.
WSLS 10's Morgan Donnelly is headed to the scene, and will have live updates this evening.