Malappuram: A panchayat member was among four men arrested for stealing Rs 1.59 crore from the money meant for refilling ATMs.
The accused were employees of a Mumbai-based agency, contracted by banks for refilling their ATMs.
Police identified the arrested men as Orrakam panchayat member N T Shibu, 31, of Vengara, Mahit, 34, of Manjeri, Krishnaraj, 28, of Kavanoor, and Saseedharan, 32, of Kottakkal.
The men had been with the agency for the past five years. Shibu had contested the panchayat polls as a Muslim League candidate.
The agency has been engaged in refilling the ATMs of various banks. The accused were responsible for refilling 29 ATMs on the Malappuram-Kozhikode highway.
Police said the accused used only a part of the cash to refill the ATMs and kept the remaining with themselves. Their illegal activity came to light while six months' accounts were audited on November 20.
