The statue created in memory of four Maidenhead schoolboys who died on a school trip in 1988 has been found cut to pieces.
The 4ft figure of a boy, his dog and a football had stood on Ray Mill Island for more than 20 years and been seen by thousands.
It was placed there to remember Altwood CE School pupils Lee Powell, 15, Andrew Watts, 14, Daniel Howton, 14 and Michael Taylor, 13, who died on a skiing trip on Easter Monday, 1988.
It was taken on Friday but this afternoon police said they had made an arrest in Maidenhead after a raid in which the statue was found 'cut to pieces' seemingly ready to be sold for scrap metal.
A £1,000 reward had been offered to catch the thieves.
Theresa May MP said she was 'disgusted' by the theft.
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