Police are searching for at least one more individual who was involved in an overnight break in this week at a home in Magellan Quay, George Town.
Investigators said the incident happened around 1am Thursday. The Royal Cayman Islands Police Service did not report the incident to the public until Friday afternoon.
Police who responded to the home found that an 80-year-old female resident had disturbed two suspect who broke into her home wearing ski masks.
Officers said the men threatened the elderly woman in an attempt to locate money, but were disturbed as an alarm sounded. They escaped from the premises and ran off.
Police said the woman was shaken by the whole incident, but was not physically hurt.
A search of the area was undertaken by police and shortly afterward a 24-year-old man was arrested near Dray Quay. He had been pulled from the water with the assistance of the Marine Unit.
Police said the man is in custody whilst the criminal investigation continues.
A number of suspected stolen items have been recovered by the Police in the subsequent investigation.
The Royal Cayman Islands Police Service is asking for any witnesses or those with information about the crime to call George Town Criminal Investigation Department on 949-4222 or Crime Stoppers on 800-8477(TIPS)