Police in the Indonesian resort island of Bali on Monday arrested a 25-year-old local man for the murder of an elderly Japanese couple earlier this month, citing financial trouble as a motive.

The man, identified as I Putu Astawa, "intended to steal (something from the couple's house), but because the victims fought back, he killed them," local police chief Hadi Purnomo told a press conference.

Astawa, who had debts of some 10 million rupiah (about $770), was arrested in the Bali provincial capital of Denpasar, Hadi said.

On Sept. 4, Norio Matsuba, 76, and his wife, Hiroko, 73, were found dead at their rented house. Their faces were burned beyond recognition.

Astawa worked as a freelance driver and lived about a kilometer from the house, located in a quiet residential area in the Jimbaran area of southern Bali.

The couple had been living in Bali for about five years, after living in the West Java provincial capital of Bandung for more than 10 years.

According to Hadi, Astawa told police during questioning that at 8:30 a.m. on Sept. 3, he was walking around the housing complex where the Japanese couple lived when he noticed the front gate of the couple's house was open.

Upon encountering Hiroko on the second floor of the house, he attempted to snatch her purse, and when she fought back, stabbed her with a knife he found outside the house and tied her up, Hadi said, adding that the man stole 11,000 yen ($99) from her purse.

Astawa subsequently killed Matsuba with the same knife and then drove away from the house in the victims' car, the police said.

He returned at 10 p.m. in the evening, carrying two bottles of gasoline, some incense and matches, which he used to set fire to the house.

According to the police officer, if found guilty of "purposely committing murder," the suspect may face up to 15 years in jail.