A man arrested in connection with the theft of nearly £1.2million by ‘Fast’ Eddie Maher 20 years ago will face no further action, police have said.

Maher, a former Securicor guard is currently serving a five-year prison term after admitting stealing £1,172,500 from outside Lloyds Bank in Hamilton Road, Felixstowe, in January 1993.

The man arrested yesterday, understood to be Maher’s older brother Michael, has now been released without charge, Suffolk Constabulary has said.

Police did not name the man when news of the arrest broke earlier today.

However, a spokesman for the force said: “A 62-year-old man from Torremolinos in Spain had been arrested yesterday on suspicion of assisting an offender.”

Three other suspects who were previously arrested after Eddie Maher’s extradition from the United States last year were all subsequently released without charge.

Eddie Maher, 57, was sentenced at Southwark Crown Court in April after being caught following 19 years on the run.

He was extradited from the US in July last year after being arrested in February.

Maher was detained at the rented apartment he shared with his wife Deborah Brett in Ozark, south-west Missouri.

The couple had been living together in South Woodham Ferrers, near Chelmsford in 1993, when the theft occurred.