$10,000 Reward For Information On The ‘Exchange Bandit’

He’s known as the “exchange bandit” and could be considered a modern-day Jesse James. Police say, so far, he’s pulled off more than two dozen bank robberies across southern Ontario.

On Thursday the Canadian Bankers Association and Toronto Police offered a $10,000 reward for anyone with information that leads to an arrest in the crime spree, which has stumped authorities in several cities for about five years.

The heists started in 2003 in Toronto and Peel Region and continued into 2004 extending to Kitchener, St. Catharines and Niagara Falls. Then the bandit took a two year break, police said.

“There was a gap of a period of two years where there were no robberies,” Det. Gary Deller of Toronto Police explained.

“He’s been in the press in the past, and I understand in the newspapers in other cities. And we just haven’t got any information from that, as yet.”

The heists started up again in 2007 in Toronto, Cambridge and Oakville. The latest robbery happened less than a month ago, at a Scotiabank at 44 King St. West on Sept. 12.

The alleged bandit also hit three other Toronto locations at 145 King St. W, a Bank of Montreal at 588 College St., and a CIBC at 100 University Ave.

In many of the crimes, cops say the robber has indicated he’s armed by passing a note but a weapon has never actually been seen. Police wouldn’t say why they’ve dubbed him “the exchange bandit”.

Despite the fact this suspect has been caught on dozens of surveillance cameras, police still can’t understand how he’s managed to evade authorities for so long.
 
“I can’t explain that. That’s part of why we’re here, just to get the message out, and we’re looking for help,” Deller said.

William Crate of the Canadian Bankers Association said his organization offers rewards in robbery cases about once a year, but noted this is a particularly startling case.

 “I think we have to catch the guy. Robbery is a frightening experience for our employees, and these individuals are very unpredictable,” he said.

“We work very cooperative with the police and in discussions with Toronto police and other law enforcement, and it became pretty clear to us that this guy was a serial bank robber and it was important for us to do something to try to catch him. That’s why we’re asking for your assistance and the assistance of the public.”

The “exchange bandit” is described as:

  • Light brown complexion
  • 175 lbs. to 195 lbs., with a medium build
  • 28 to 35-years-old
  • Wears glasses with a light frame
  • Has a shaved head, but has had dark hair in the past
  • Usually wears a bag over his shoulder

If you have any information that could help police at (416) 808-7350 or Crime Stoppers at (416) 222-TIPS.

 

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