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Nima Momeni, who was taken into custody during a search in nearby Emeryville, is suspected of stabbing Lee, 43, multiple times with a knife that was recovered near the scene, the independent news site Mission Local reported, citing police sources.
The San Francisco Police Department did not immediately respond to a request for further information.
Lee, who founded Block Inc-owned Cash App, is believed to have known the suspect. The two reportedly were driving in downtown San Francisco in Momeni’s car when an alleged confrontation led to Lee’s April 4 stabbing.
Momeni owns a technology company called Expand IT, according to Mission Local. Momeni has owned the Emeryville-based IT firm since 2010, according to a LinkedIn profile from someone with that name. Attempts to reach a representative of Expand IT were not immediately successful.
The San Francisco Chronicle also reported news of an arrest, citing San Francisco Board of Supervisors President Aaron Peskin and other city officials, without disclosing a name.
Supervisor Matt Dorsey acknowledged the arrest on Twitter in a post. “I hope today’s arrest can begin a process of healing and closure for all those touched by this tragedy,” he said.
Dorsey’s district includes the neighborhood where Lee was killed, the Chronicle reported.
Cash App allows users to transfer money through a mobile application and is touted by the company as an alternative to traditional banking services.
Lee was the chief product officer for cryptocurrency company MobileCoin, where he was also previously an early-stage investor and adviser, the company said on Twitter.
