A Kaneville, East Bank Demerara, resident was robbed just after midnight on Thursday by three men, one of whom was armed with a knife.
Police say Akely Freeman was pounced upon by three identifiable males sometime around 00:30h today.
Two of the perpetrators searched Freeman for valuables while the third held him at knife-point.
The victim received a cut on his hand while attempting to resist the search. He was subsequently relieved of $240 cash and his black BMX bicycle valued at $12,000 by the suspects before they made their escape.
According to the police, one of the suspects has since been arrested and taken to the Georgetown Public Hospital where he is under guard receiving medical attention.
His accomplices are yet to be arrested.
This investigation continues.