Petty offered a $7,500 reward for the return of the 1967 12-string Rickenbacker, a Gibson SG TV Junior, a Fender Broadcaster, a 1967 Epiphone Sheridan and a blue Dusenberg, which were stolen last week from a Culver City sound-stage where the band had been rehearsing.
Police told TMZ Tuesday a man has been arrested in connection with the theft. No details were released regarding his identity or whether he has been charged.
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