An Auburn man was arrested Wednesday after police accused him of possessing a flat screen television that had been reported stolen from a local business.

Frank P. Walters, 27, of 22 Franklin St., Auburn, was arrested at his residence and charged with fourth-degree criminal possession of stolen property.

According to the Auburn Police Department, police found in Walters' possession, a 50-inch flat screen television reported stolen from an Auburn business. Officials are currently not releasing the name of the business.

Walters was arraigned in Auburn City Court and remanded to the Cayuga County Jail in lieu of $5,000 cash or bond.

Walters was also arrested Feb. 6 on unrelated burglary charges.

Police officials said that Walters allegedly forced entrance into Infinite Autosport Store, 104 Grant Ave, and stole a large amount of cash on Sept. 12, 2007. He is charged with third-degree burglary and third-degree grand larceny, both felonies.