Four men were initially arrested – three in Sark and one in Guernsey – on suspicion of aggravated burglary by Guernsey Police on September 21.
The man arrested in Guernsey has been released without charge.
The other three are due to appear in court in Guernsey this morning.
Authorised firearms officers and detectives were sent to the island from Guernsey following a request from Sark’s authorities.
Amid considerable speculation in local social media groups, Guernsey Police said they were encouraging people to allow the ongoing investigation to be completed and to wait for the full facts to be heard in court before reaching their own conclusions.