The robbery was reported to have occurred in Albion Place around 10.30pm on October 21, 2022.
Two people pushed a man in his fifties to the ground and stole his wallet, which contained bank cards.
Later, unsuccessful attempts were made to use the cards in local stores.
On Sunday, January 22, 2023, a 42-year-old man with no fixed address was arrested and taken into custody on suspicion of robbery.
Detectives had previously arrested a 38-year-old man from Herne Bay in connection with the incident on December 15, 2022. He is still being investigated.