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Jeffrey Kniffin, 50, was charged with armed bank robbery, New Jersey's U.S. Attorney said in a news release. He was arrested after the robbery at the Bank of America on Route 35 on Wednesday, Oct. 23.
According to court documents and statements, Kniffin parked his bicycle at a nearby grocery store and entered the bank at around 3:21 p.m. He demanded cash from a teller and pulled out a gun.
Investigators said while the teller was giving him the money, Kniffen said, "Don't do anything stupid." He repeated it to other employees as he left the bank.
An employee then called 911 to report the robbery and an off-duty officer in the area saw Kniffin on his bike. The officer followed Kniffin about a half-mile to his home on M Street.
Kniffin dropped a large amount of the cash in his driveway and followed the officer's orders.
"I'm so sorry, I got myself in a lot of trouble, I don't know what else to do," Kniffin said to the officer, according to the criminal complaint.
Kniffin was found with a loaded gun and more than $17,000 in cash. He was previously charged in Monmouth County Superior Court with first-degree armed robbery, possession of a weapon for an unlawful purpose, and fourth-degree possession of hollow-point bullets.
If convicted of the federal armed robbery charge, Kniffin could receive up to 25 years in prison and a $250,000 fine.
Kniffin was scheduled for a detention hearing on Monday, Nov. 25.
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