The truck crashed head-on into a pickup truck around 10 a.m. Wednesday, killing Rod Whalen, 60, a 15-year employee of G4S. The pickup driver also died. A second G4S guard was treated and released from hospital.
RCMP allege the accused stopped moments after the collision, scooped up money that had fallen out of the armoured truck and drove away.
Witnesses saw a man taking the money and gave police a licence plate number. RCMP Const. Natasha Lytwenko says police then contacted the accused and asked him to bring the money back.
A 60-year-old man from Leduc County was arrested on Friday and charged with theft over $5,000 and possession of property obtained by crime over $5,000. He is scheduled to appear in court on Jan. 22.
Police will not say how much money was taken.
The G4S guards involved in the crash worked in the same cash-in-transit section as the three guards who were shot and killed on the University of Alberta campus in June 2012.