Police were called to four men targeting members of the public in Ilford High Road on Wednesday (January 7) at 10.51am.
The suspects then left the area in a car, the Metropolitan Police said.
Officers from the safer neighbourhood team responded quickly and stopped the car on Romford Road.
Four people were detained and arrested on suspicion of theft of a person.
The driver of the vehicle was also arrested for traffic offences and the car was seized.
Following the arrest, the men have been bailed whilst the investigation continues.
Councillor Khayer Chowdhury, cabinet member for enforcement and community safety, said that the arrests were made within 10 minutes.
A Met Police spokesperson said: “One victim of theft was identified and supported by officers.”
Anyone with information is asked to call 101 or ‘X’ @MetCC and quote 2127/7Jan. You can also provide information anonymously to the independent charity Crimestoppers on 0800 555 111.
