Suspect arrested in stabbing death of Cash App founder Bob Lee

San Francisco police arrested a man on Thursday in connection with last week's fatal stabbing of Cash App founder Bob Lee, according to local media reports,

Nima Momeni, who was taken into custody during a search in nearby Emeryville, is suspected of stabbing Lee, 43, multiple times with a knife recovered near the scene, independent news site Mission Local reported, citing police sources.

A 38-year-old man by the same name was booked into the county jail after 9am local time on Thursday on suspicion of murder, records show. Neither a court date nor an attorney for Momeni is listed.

The San Francisco Police Department did not immediately respond to a request for further information.

Lee is believed to have known Momeni, who, according to a LinkedIn profile of someone with that name, is the owner of an Emeryville-based technology company. The two men 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 firm since 2010, according to the LinkedIn profile. Attempts to reach a representative of Expand IT were not immediately successful.

Block-owned Cash App allows users to transfer money through a mobile application, which the company touts 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.