Vehicles were checked at different places including T.Kallupatti and Kappalur.
The owners of the money could claim the money back after showing proof for source of money, police said.
Some of them, who were questioned, said the money seized was nothing but sale proceeds of PVC pipes, among others, sources said.
The Election Commission has said those who could account for the money could show the proof to police.
Meanwhile, a press release from Madurai District Collector L Subramanian said 60 'flying squads' had been formed to monitor poll violations.
He said additional security had been arranged in sensitive areas.
