'Well-Dressed Bandit' sought by police in Toronto

A suspect's decision to dress in formal clothes for a bank robbery has given Toronto police their inspiration for his notable nickname.

Canadian Bankers Assocation offers reward of up to $10,000 for information

Staff Insp. Mike Earl explains the background on the bank robbery suspect who has been dubbed as the 'Well-Dressed Bandit.' 2:17

A suspect's decision to dress in formal clothes for a bank robbery has given Toronto police their inspiration for his nickname.

Police say the so-called "Well-Dressed Bandit" robbed four banks last fall, each time demanding money and indicating he carried a gun.  

Staff Insp. Mike Earl said police came up with the descriptive name for the suspect, after he attended the first bank dressed as if he was coming from a job interview.

"Very seldom do we have a bank robber or criminal committing an offence in a suit with a tie," said Earl.

In subsequent robberies, Earl said the suspect wore a hoodie or a jacket.

Toronto police are trying to identify and locate a suspect in a series of bank robberies, whom they have dubbed the "Well-Dressed Bandit." (Toronto Police Service)

The suspect is a white male, who police believe is between 45 and 60 years of age. He's described as between five feet, eleven inches tall and six foot, two inches, and has been seen wearing sunglasses, tan gloves and a hooded jacket when at these banks.

Police allege the suspect went into a bank in the Rogers Road and Keele Street area on the morning of Oct. 23, 2014. He demanded money and said he had a gun. Police say he opened his jacket to reveal a firearm. The suspect fled the scene with money he was given.

Two weeks later, on Nov. 6, 2014, it is alleged that the suspect went into a bank in the Queens Plate Drive and Highway 27 area. Police say he used a hold-up note and indicated he had a gun. In this case, he left the bank without any money.

On Nov. 10, 2014, police say the suspect went into a bank in the College Street and Grace Street area, at 4:25 p.m. It is alleged that he used a note to demand money and he pulled a gun out of a carrying case, police say. The suspect fled with money.

About 30 minutes after that incident, police allege that the suspect appeared at a bank in the Bloor Street West and Dovercourt Road area. It is alleged that he gave a note to a teller and threatened to kill the teller if she did not comply with his demands. Police say the note indicated that he had a gun. He fled with money he was given.

Earl said the suspect has "not surfaced" since this last robbery.

"Our investigative leads have dried up," Earl said, which is why police are asking for the public's assistance in their ongoing investigation.

Police are warning the public not to approach the suspect, but to call 911 if he is spotted.

The suspect is considered armed and dangerous, according to police.

Anyone with information is asked to contact investigators at 416-808-7350. Tips can also be passed on anonymously through Crime Stoppers at 416-222-8477.

The Canadian Bankers Association is offering a reward of up to $10,000 for information leading to the arrest and conviction of the suspect.