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The gunman and a companion fled following the Christmas Eve confrontation outside the Louis Vuitton store at the Garden State Plaza, Police Chief Kenneth Ehrenberg said.
Responding Detective Jon Umanzor and Officers Jon Henderson and Diego Cruz spotted the pair on the mall's second level near Nieman Marcus about 20 minutes later, he said.
Seeing them, the duo fled down an escalator, Ehrenberg said.
One handed a cross-body bag containing the gun to the other, who dropped it, the chief said.
Police caught both men and retrieved the bag, which Ehrenberg said contained a Taurus PT740 .40-caliber handgun with a magazine loaded with six bullets.
The pistol had been reported stolen during a burglary in Georgia, he added.
Arrested were the accused gunman, Kamaal Biscain, 28, and Elijah King, 34, both of Brooklyn.
Both remained held Monday in the Bergen County Jail, charged with weapons and stolen property possession.
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