Four employees of a cash management firm were arrested today, a day after they allegedly made away with Rs 1.20 crore meant for ATMs in Tamil Nadu's Ramanathapuram, the police said.
The four had lodged a complaint claiming that the money had been stolen by unidentified people after the vehicle in which they were travelling met with an accident and capsized, the police added.
The men who were carrying a total of Rs 1.60 crore said the "mishap" occurred when they were on their way to another ATM after replenishing a machine with Rs 40 lakh.
During interrogation, the police found the cash was stolen by the complainants themselves.
After the four confessed to the crime, the police arrested them and recovered Rs 32 lakh.
Efforts are on to recover the rest of the amount, the police said.