Chiang Mai police arrested two men yesterday and recovered more than 36 million baht in cash at a condominium room and from two other locations in Muang district.

Police said that the seized cash was part of some 76 million baht, in cash and valuables, which the two suspects, only identified as “Phudit” and “Adisak”, had allegedly stolen from the house of their business partner in Mae Hia sub-district on April 11.

After the theft was reported to the police in Muang district on the following day, police examined CCTV footage from the housing estate and along the routes that the thieves could have taken in their escape, as well as some recovered stolen items which were abandoned by the suspects.

Police finally tracked the suspects down to a condominium in Muang district and arrested them in the parking lot.

Police searched their condominium room, a house and a room at a hostel and recovered over 36 million baht in 1,000-baht notes.

The two suspects reportedly admitted that they are acquainted with the victim, because they had been in the construction business together for more than a decade, but the relationship soured about two years ago over money problems.

The victim is a contractor, who usually bought used houses or condominium units for renovation and resale for profit, which could explain why he kept large amount of cash in his house, said the police.