Thai police have arrested an Australian man suspected of the smash-and-grab theft of a diamond ring worth almost $1 million from a jewelry shop in Melbourne.

Police said Monday that 30-year-old George Georgiou had been arrested Sunday on a warrant issued by a Melbourne court. A police press release said Georgiou was arrested in Chonburi province, near the resort town of Pattaya.

Georgiou is accused of smashing the window of Hardy Brothers Jewelers with a hammer in March.

He told reporters in Bangkok on Monday that he had not stolen the $925,000 ring.