Update: Alleged serial bank robber caught in Arkansas

Alleged serial bank robber caught in Arkansas

UPDATE: Bond has been set at $500,000 for the Texas man known as the 'Loan Ranger Bandit.' Richard Swicegood is behind bars after allegedly robbing at least 20 banks and financial institutions across the country since 2009.

"Usually somewhere down the road, they foul up," Tyler Police Department Public Information Officer Don Martin said.

And that's exactly what police say happened Tuesday, when Swicegood was spotted getting into a red Ford Mustang with Texas license plates -- allegedly fleeing from yet another bank robbery.

A man the FBI says is Swicegood was caught on surveillance video at Summit Bank in Benton, Arkansas, pointing a pistol at a teller and demanding cash.

But this isn't his first rodeo. He's accused of hitting that same bank twice before -- once in 2009 and again in 2011.

"He was hitting multiple cities in multiple states," Martin said.

The FBI says he's done the same thing at at least 20 other banks and financial institutions across the country, from Texas all the way to Kentucky.

He was even featured on an episode of "America's Most Wanted."

"The frustration comes in that he's doing it everywhere else, and he's not getting caught," Martin said.

Tyler police dubbed him the 'Loan Ranger Bandit' because he wore a Texas Rangers hat and targeted mostly branches that give out loans, hitting Altra Federal Credit Union back in 2011, and Compass Bank less than a year later.

"He robs a bank, he flees on foot, we can't find him right away, we have nothing to go on," Martin said. "We don't know what vehicle to look for, we're just kind of at a stalemate."

But perhaps the most unusual thing about this case is that he was so brazen that he never once tried to hide his face -- at times even looking directly into the security camera.

"It just is actually amazing with all the tools that law enforcement has, that we just weren't able to come up with a recognition on him," Martin said. "But now that he's been arrested, hopefully his bank robbing days are over with."

The FBI believes Swicegood is from Waxahachie, which is about 30 miles south of Dallas.

Police won't disclose how much money he allegedly got away with in all, but they say they're just glad that no one was hurt.

Swicegood is charged with 11 counts of aggravated robbery, three counts of theft and one count of unauthorized use of another person's property to facilitate a crime.

The investigation is ongoing, and police say more charges could be coming soon.


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