Additional Commissioner of Police (Crime) Makarand Ranade said the theft had occurred in the house of Paresh Patil in Cholegaon area in Thakurli when his family had gone for a religious gathering in Jejuri on March 13.
"When the family returned on March 14, they found that the grills of their bathroom window had been cut and cash and valuables, comprising Rs 4.30 lakh in gold jewellery, had been robbed," Ranade said.
Police said that investigations, and tip-off from informants, led them to Kisan Damarbahadur Sahi (34) who was employed at the Patil household to clean vehicles.
Officials identified the other three who have been arrested as Roshan Jeevan Padam Sahi (25), Raju Ratan Om Bahadur Sahi (32) and Jirbahadur Enbahadur Sahi (24).
A fifth accomplice, identified as Kamal Sahi, is absconding and is believed to have fled to Nepal, officials said.
"We have recovered Rs 19.71 lakh and searches are underway to recover the entire loot. Dombivali police as well as the Property Cell are conducting further investigations," an official said.
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