CHANDLER, Ariz. -- Chandler police said a man suspected of robbing three banks in the Valley is in custody.
Michael Schraeder, 25, was booked into the Maricopa County Jail on one count of robbery and two counts of armed robbery. He is being held on a $45,000 bond awaiting a court appearance Thursday.
Chandler police said the U.S. Bank at 1159 W. Chandler Blvd. was robbed by a man who passed a note to a teller on Dec. 29. A robbery occurred six days later at the U.S. Bank at 2935 E. Riggs Road and on Jan. 7 at the Wells Fargo Bank at 10325 E. Riggs Road in Sun Lakes.
Chandler police said the suspect in all three robberies used a similar method.
Investigators from the Chandler Police Department and the Maricopa County Sheriff's Office developed probable cause against Schraeder in all three robberies. He was arrested without incident on Jan. 9.