Tinton Falls Man Charged With 5 Bank Robberies
By TOM SHORTELL
A 56-year-old Tinton Falls man was arrested this week and charged with robbing five banks including the Central Jersey Bank in Bradley Beach last week.
Police arrested Richard Demott, 56, Tuesday after two members of a task force investigating the robberies spotted a man matching the robber’s description in Ocean Grove following a meeting on the bank heists, said Bradley Beach Police Chief Leonard Guida. After making further inquiries, the suspect was transported to the Monmouth County Prosecutor’s satellite office in Asbury Park, where he was arrested.
Demott is suspected of robbing the Sun National Bank in Shrewsbury, the Hudson City Savings Bank in West Long Branch, two Two River Community Banks in Tinton Falls and Red Bank and the Central Jersey Bank in Bradley Beach. The robberies took place between May and August.
Bail was set at $1 million. Demott has been charged with five counts of armed robbery, each of which carries a maximum prison sentence of 20 years. He has been cooperative with investigators thus far, Guida said.
Guida declined to comment on how much money Demott is suspected of stealing or whether it had been accounted for yet.
The task force was led by the Monmouth County Prosecutor’s office and included detectives of the five municipalities that had banks robbed and the FBI. Neptune Township police also assisted.
“I’m very pleased with the fine police work that resulted in his apprehension. It truly was a cooperative investigation,” Guida said.
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