Wanted poster for the "well-dressed bandit".

Banks offer $10K reward to catch robber

Bandit was sharply dressed in a suit during crime

Police announced Wednesday a reward of $10,000 for information on the “well-dressed bandit”. The Canadian Bankers Association (CBA) is to provide the reward money.

The well-dressed man robbed four banks within a six-week period. He committed the first robbery in late October at a Bank of Montreal branch at Rogers Road and Keele Street. Police reported that he robbed three other banks, two Royal Bank of Canada branches and a CIBC, in November.

“He’s always carrying some type of portfolio or a tache where he has the hand gun in it,” Mike Earl, Toronto Police staff inspector of hold-up, said at a press conference Wednesday.

In each robbery the man handed the teller a note demanding money and indicating he had a gun. He was successful in obtaining money on three of the four occasions.

“Robbery is a predatory and very personal crime,” Bill Crate of CBA said. “Its unpredictability poses the most risk and danger to people.”

The moniker was given to the man because bank robbers rarely commit crimes while dressed in a suit. Earl said that the robber was dressed “like he left a job interview” during the first robbery, but later crimes were committed in hoodies and winter-type clothing.

“When tipsters phone in, it actually makes it easier to sort out which bandit they’re talking about right from the get-go, instead of trying to name locations and dates of robberies,” Earl said.

Toronto Police requested the help of the CBA because tips have “dried up.”

“Anybody who’s armed with a firearm and going into a bank or any other retail business premise concerns the Toronto Police hold-up squad, concerns Toronto Police and the public,” Earl said. “That’s extra trauma that’s put on the victims themselves and situations can get out of hand.”

The suspect was described as a white male between the ages of late 40s and early 60s. Police indicate he may be 5-foot-10 to 6-foot-2 with a medium build.

Toronto Police encouraged the public to contact Crime Stoppers or the hold-up squad at 416-808-7350 if they have any information.