U.S. Department of Justice
Federal Bureau of Investigation
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U.S. Department of Justice Federal Bureau of Investigation |
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| In Reply, Please Refer to Release No. |
219 South Dearborn Street Chicago, Illinois 60604 |
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March 12, 2003 Chicago Man Arrested Following South Side Bank Robbery Thomas J. Kneir, Special Agent in Charge of the Chicago office of the Federal Bureau of Investigation (FBI) and Terry G. Hillard, Superintendent of the Chicago Police Department (CPD) announced today the arrest of CORNEILUS D. PRICE, age 28, whose last known address was 1165 North Milwaukee Avenue in Chicago. PRICE was arrested yesterday afternoon, without incident, by CPD Officers who were responding to the robbery of the Bank of Chicago, located at 10535 South Torrence. PRICE will be charged in a criminal complaint filed later today in U.S. District Court in Chicago with one count of Bank Robbery, which is a felony offense. According to witnesses, PRICE confronted a bank employee who was opening the bank at approximately 7:30 AM. PRICE, who was armed with a handgun, forced the bank employee into the bank and demanded cash from the vault. After obtaining an as yet undetermined amount of cash, PRICE secured the bank employee with duct tape and fled the bank on foot. A CPD patrol unit, responding to a silent alarm at the bank, spotted PRICE running from the area and gave chase, arresting him a short distance away. A bag of money, thought to be proceeds of the robbery, and a 9mm handgun were recovered from the scene. PRICE was subsequently turned over to the FBI and was held overnight at the Metropolitan Correctional Center (MCC) in Chicago. PRICE is scheduled to appear before U.S. Magistrate Judge Arlander Keys at 2:00 PM today, at which time he will be formally charged. If convicted of the charge against him, PRICE faces a possible sentence of up to 20 years incarceration. The public is reminded that a complaint is not evidence of guilt and that all defendants in a criminal case are presumed innocent until proven guilty in a court of law. EDITOR's NOTE: A copy of the complaint filed against PRICE will be available from the Chicago FBI Press Office at (312) 786-2645. |
