The Criminal Investigation Department (CID) had arrested Mahato (30) from his residence in Ranchi on Wednesday for his alleged involvement in the robbery, which took place in West Midnapore.

According to the police, he was among the five men who raided the Panchkuri branch of Central Bank of India on August 8, 2004 and decamped with Rs 5 lakh and 650 bank drafts.

Mahato’s arrest came days after Dhiraj Jalan was held in this connection on March 20.

The miscreants had encashed 78 bank drafts and purchased a few cars, jewelleries, music systems and various other costly products worth Rs 2.5 crore from various places in Maharashtra, Jamshedpur, Benaras, Lucknow, Surat, Mughalsarai, Imphal and Muzzaffarpur, said a senior CID officer.