According to police, the accused, Kolli Srinivasa Rao, had stolen 450 grams of gold ornaments from the house of Madana Jyothi, a widow, on January 7.
Talking to reporters, DCP (Crimes) T Ravi Kumar Murthy said the accused was known to the victim.
"During the wedding of Jyothi's daughter last month, Srinivasa Rao, who runs a transport business, had seen the jewellery kept at home. Rao had suffered huge losses in the business and hence planned to steal the jewellery to overcome the financial stress," the officer said.
Later, he went to the victim's place and stole the jewellery. Jyothi, who came back to Vizag on January 13, found that the gold ornaments were missing.
After the complaint, police investigated the case and arrested Rao.
All the valuables have been recovered from him.
