Matthew Mark Luke John Osborne, 29, was locked up in Cairns this weekend after he was arrested while waiting to board a flight to New Zealand and charged with the theft of the rare pink argyle diamond.
The Cairns Post said Osborne was arrested in Melbourne Thursday and returned to Cairns under police escort Saturday night.
Osborne allegedly took off with a container with the diamond in it while shopping at a jewelry store last weekend. He left the area on a bicycle and did not have the stone on him when he was arrested.
An X-ray of Osborne did not reveal the diamond in his digestive tract; however, police told the British newspaper the Mirror they had not ruled out the possibility he swallowed it while making his getaway.
The possibility Osborne dropped the diamond in the overseas mail was also under consideration, police said.
Osborne was arraigned this week and will likely remain in jail until his next court appearance March 19.