A 33-year-old Mowbray man has become the third person to be charged with the alleged murder of Billy Ray Waters.
The accused will appear in an after-hours court at 8pm, after two 17-year-old boys were charged with murder on Sunday.
The investigation is ongoing and police have not ruled out charging other people.
"Police would like to thank the members of the public who came forward to Crime Stoppers with information which, coupled with some excellent police work, has led to these three arrests," said Detective Acting Inspector Craig Fox.
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"A body located at Mayfield on Friday has not yet been formally identified but it is believed to be Billy.
"Our thoughts and condolences are with Billy's family and loved ones at this difficult time."
Billy was last seen alive on August 4 and his disappearance was reported to police on August 11.
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