News

Jersey cash carrier makes off with $5M

December 30, 2001

NEWARK, N.J. -- Michael Schwartz, 36, the Jersey City owner of Direct Connect ATM and Schwartz Armored LLC, is suspected of stealing $5 million worth of $20 bills he was supposed to use to restock ATMs, according to the FBI.

According to Associated Press and Reutersreports, the FBI believes Schwartz fled with the cash, which came from California-based Humboldt Bank and weighed 350 pounds. After putting out a warrant on Dec. 13, the FBI asked the public for help on Dec. 28.

Schwartz had established the two businesses within the last two years, and had a contract to restock more than 160 ATMs throughout New York and New Jersey, the FBI said.

He was last seen Dec. 2 when a neighbor witnessed him loading personal effects into one of his two vans. He is thought to be traveling with his two Siamese cats, aptly named Bonnie and Clyde.

The FBI is offering a $25,000 reward for information leading to his arrest. The FBI said he is considered dangerous.