MORRISTOWN, NJ - Newark resident Michael Reed was arrested and charged on Monday in Morris County Superior Court with the July 28 robbery of Chatham's Crescent Jewelers, where more than $75,000 worth of jewelry was reportedly taken at gunpoint.

Morris County Superior Court Judge Paul W. Armstrong set bail at $250,000. Two other suspects are still at large.

Reed, 46, was one of three males who entered the Chatham Borough store on Main Street, put a gun to the head of proprietor Joanne Prisco, duct-taped her and fled with bags full of jewelry. The three suspects fled in a gray or silver Jeep Cherokee.

After a search warrant of Reed's residence in Newark, where a gun and some of the jewelry was recovered, the convicted felon was charged by prosecutors with armed robbery, burglary, theft, criminal restraint, and possession of a weapon in relation to a crime.