Bandits broke into D.T. Nandlall Jewellery store located in the Stabroek Market between Friday afternoon and yesterday morning and stole more than $1M in cash and jewellery.
Police confirmed the incident which took place sometime between 4.20 pm Friday and 6.30 am yesterday.
The bandits carted off a quantity of silver and gold jewellery valued $1.4M, $300,000 cash and a quantity of wallets and belts valued $100,000.
One suspect has been arrested while two others managed to escape.
The stall is owned by a 47-year-old La Union, West Coast Demerara woman.
According to a police report, enquiries disclosed that the victim secured the stall by means provided on Friday afternoon.
Around 4.30 am yesterday, police said ranks from the City Constabulary were on foot patrol duty around the Stabroek Market area when they heard banging sounds coming from inside the market.
As such, they opened the gates to check and observed the three bandits escaping on foot.
Reports are that the suspects gained entry into the stall by cutting a few zinc sheets from the roof.
The ranks gave chase after the bandits and were only able to apprehend one of them who dropped a bag. His accomplices escaped.
A search was carried out on the suspect and a transparent plastic bag containing cash and a quantity of jewellery was found in his crotch.
An investigation is ongoing.
