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Minnesota man pleads guilty to 2009 Associated Bank heist

A 48-year-old South St. Paul, Minn. man pleaded guilty Tuessday to robbing six banks in 2009 including Associated Bank in Hudson on Oct. 9, 2009.

Steven Lee Olson appeared before United States District Court Judge David S. Doty in Minneapolis. He was indicted on Dec. 2, 2009.

Olson was apprehended following the robbery of the Wakota Credit Union in South St. Paul. According to a Federal Bureau of Investigation affidavit, Olson walked up to a teller, pointed a purported gun at her, and demanded "banded" money. The teller was too scared to respond, so Olson went to a second teller, who gave him cash.

After taking the money, Olson left the premises. He was wearing a red jacket and had a red bandana covering a portion of his face. A citizen who observed the robbery followed Olson, who took off in a Dodge Intrepid vehicle. Using a cell phone, the citizen contacted law enforcement and reported Olson's location.

Responding to the citizen call, authorities located Olson, who then fled the scene in his vehicle. Law enforcement pursued him for about two miles before he jumped from his vehicle and attempted to outrun the police. Following a short foot chase, Olson was apprehended. During a subsequent search of Olson's vehicle, officers found the red-hooded jacket, a red bandana, a toy revolver, loose bills, and a bank bill wrapper from the First State Bank of Rosemount, which was robbed on Oct. 21, 2009.

For his crime, Olson faces a potential maximum penalty of 20 years in prison. Judge Doty will determine his sentenced at a future date yet to be scheduled.