The guard works for a company that collects cash from various godowns and then supplies them to ATMs, police said.
The accused today went to collect cash from various places in the city along with driver Sahil and cashier Vikas, they said.
When Sahil and Vikas went into a godown in Mianwali Nagar area to collect cash around 7.20 PM, the guard drove away the van that contained Rs 70 lakh in cash, a senior police officer said.
A PCR call was received around 7.40 PM about the incident, following which a case was registered.
The officer said they are looking for footages of CCTV cameras from the area to trace the route that could have been taken by the accused and have started questioning the company's employees.