A driver of a private cash management company escaped with a vehicle containing 1.18 crore meant to be filled in ATMs in Velappanchavadi near Thiruverkadu on Monday afternoon.
A senior police officer said a Tata Sumo utility vehicle of Logicash, a leading cash management service provider, picked up over Rs. 2 crore from its branch office at Kodambakkam in the morning.
After replenishing cash at a few ATMs in the city limits, the vehicle stopped near a facility belonging to Bank of Baroda on the highway in Velappanchavadi.
“The staff Babu and Sathish Kumar and armed guard Jovith Mullah had gone to load cash in the ATM leaving behind the driver in the van. Meanwhile, driver Isakki drove the van and escaped with the money,” said the investigating officer.
Police recovered the van along the road near Madhuravoyal. They suspect the driver to have shifted the money into another car and fled the scene.
“He took 1.18 crore from the vehicle,” said an investigating officer. Police are analyzing the CCTV camera footage from nearby localities to trace the driver. A special team has been formed to investigate the case.