Three men, all armed with guns broke into the R & S Variety Store and Supermarket at Clifton Settlement, Port Mourant around 11.30 pm on Sunday and escaped with cash and articles totalling $1.4 million.
Police sources said that acting on information they raided a house in the area and arrested a man who has been placed him in custody as investigations continue.
They said the gunmen tied up the security guard, Patrick Gomes, 52, with duct tape and his shirt before cutting a hole in the roof to gain access to the building.
They then removed 10 Ipods, eight cellular phones, eight MP3 players, a video camera, a quantity of perfumes, DVD players and GT&T and Digicel phone cards along with $465,000.
The sources said too that the bandits damaged a number of padlocks in the business place belonging to Rafeek Kasmalle, 55, of Belvedere, Corentyne.