UPDATED Thursday, May 31, 2012 --- 7:25 a.m.
A federal grand jury in the Western District of Wisconsin, sitting in Madison, returned the following indictment Wednesday:
Ernest Bailey, 19, Madison, Wis., is charged with the armed robbery of the Dane County Credit Union on East Washington Avenue in Madison on May 29, 2012.
He is also charged with brandishing a firearm during this crime of violence.
Finally, he is charged with being a felon in possession of a firearm.
If convicted, Bailey faces a maximum penalty of 25 years in federal prison for the armed robbery, a mandatory seven-year sentence on the brandishing a firearm charge which would be served consecutively to any other sentence imposed, and 10 years on the felon in possession charge.
The charges against him are the result of an investigation by the Madison Police Department, Federal Bureau of Investigation, and Bureau of Alcohol, Tobacco, Firearms and Explosives.
The prosecution of this case has been assigned to Assistant U.S. Attorney Meredith P. Duchemin.
Posted Tuesday, May 29, 2012 --- 12:10 p.m.
From the Madison Police Department:
05/29/2012 - 10:50 AM
3394 E. Washington Ave. (Dane County Credit Union)
Ernest L. Bailey, age 19, Madison
Mr. Bailey was arrested for Armed Robbery and on warrants.
A Madison Police sergeant was close to using deadly force this morning after a bank robber reached for his weapon seconds after the Dane County Credit Union, 3394 E. Washington Ave. was held up around 10:50 a.m.
The sergeant was very close when a robbery in progress call was broadcast over police channels.
She encountered the suspect behind the credit union and was able to get him to drop a handgun, which had been tucked in his pants.
The suspect is well known to the MPD as he had been arrested numerous times.
Money from the heist was recovered.