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Man accused of 3 bank robberies in Chandler area

Man accused of 3 bank robberies in Chandler area

CREATED Jan 14, 2013

Web Producer: Mo Olivas

CHANDLER, Ariz. (AP) - Authorities say a man suspected of robbing three banks in the Chandler area since last month is in custody.
   
Chandler police say 25-year-old Michael Schraeder has been booked into the Maricopa County Jail on suspicion of robbery and armed robbery.
   
He's being held on a $45,000 bond awaiting a court appearance Wednesday.
   
Police say a U.S. Bank branch in Chandler was robbed Dec. 29 by a man who passed a note to a teller.
   
Six days later, another U.S. Bank branch in Chandler by a man using the same method.
   
A similar robbery occurred Jan. 7 at a Wells Fargo Bank branch in Sun Lakes.
   
Police investigators say they developed probable cause against Schraeder in all three robberies.
   
Authorities didn't immediately know Monday whether Schraeder has legal representation yet.