One of the two suspects was identified as Narongchai Sawasdiphol a police source said
He and the other man were arrested at a house in Bangkok at 10.30pm on Wednesday night.
Police found the cash in the same carry-on luggage robbed from employees of gold and jewellery exporter Pattharit Taerattanachai, 34, from the Ratchada Pavilion condominium parking lot at 11.15pm on Monday.
The two suspects were taken for interrogation to Phaholyothin Police Station.
At 9pm on Wednesday, police found the stolen pickup that was parked near the Mass Rapid Transit Authority of Thailand head office in Bangkok’s Huai Khwang district.
Police Commissioner Pol General Chakthip Chaijinda said late on Wednesday night that police were now aware of the identities of the five robbers.