A man was arrested Saturday on suspicion of theft in connection with the bike in the case Channel3000.com and News 3 reported Thursday.
Jonathan J. James, 29, was arrested at about 10:30 a.m. for allegedly taking a bike from a Doty Street parking garage on St. Patrick's Day.
John Kincaid , a software developer, posted surveillance footage on YouTube and Craigslist of the theft hoping someone would recognize the man in the video.
Officer Jeff Pharo with Madison Police Department said he did recognize the man and believes the thief is Jonathan James.
Police said James kept the bike on his porch for a few days then sold it for $20.
Police have not yet recovered the black and green Trek 3500 bike.