MORRISTOWN, NJ - Newark resident Michael Reed is in custody while Raiys Grimes of West Orange is still at large in connection with the July 28 armed robbery of Chatham's Crescent Jewelers it was announced Tuesday by the Morris County Prosecutor's office.

Convicted felon Reed, 46, is charged with being one of three males who conspired to commit the robbery. Reed and Grimes 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.

A search warrant of Reed's residence in Newark produced a gun and some of the stolen jewelry. Morris County Superior Court Judge Paul W. Armstrong set bail for Reed at $250,000 and denied the 10 percent bail option for the suspect.

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Morris County Prosecutor Fredric M. Knapp and Chatham Borough Police Chief Philip J.Crosson, Jr. announced the charges against Reed and the 36-year-old Grimes.

According to Knapp, both been charged with Robbery, a crime of the first degree; Conspiracy to Commit Robbery, a crime of the second degree; Possession of a Weapon for Unlawful Purpose, a crime of the second degree; Unlawful Possession of a Weapon, a crime of the second degree; Theft, a crime of the second degree; Conspiracy to Commit Theft, a crime of the second degree; Burglary, a crime of the second degree; Conspiracy to Commit Burglary, a crime of the second degree; Criminal Restraint, a crime of the third degree; Conspiracy to Commit Criminal Restraint, a crime of the third degree; and Aggravated Assault (pointing a firearm) a crime of the fourth degree. Reed was also charged with Certain Persons Not to Have Weapons, a crime of the second degree.

According to authorities, it is alleged that on Thursday, July 28, 2016 at approximately 10:54 a.m. Reed and Grimes entered Crescent Jewelers and stole jewelry and cash valued in excess of $75,000.00. During the robbery, a handgun was produced and a store employee was physically restrained.

During the course of the subsequent investigation, law enforcement recovered various proceeds from the robbery, as well as the handgun that is alleged to have been used during this crime.

Reed is currently being held at the Morris County Correctional Facility. Grimes remains a fugitive and is currently being sought by law enforcement. A third suspect is being sought.

Anyone having information related to his whereabouts is encouraged in contact the Chatham Borough Police Department at 973-685-8000, the Morris County Prosecutor’s Office Major Crimes Unit at 973-285- 6200, or Morris County Sheriff’s CrimeStoppers at 973-267- 2255. Callers may remain anonymous.

This matter continues to be investigated by the Chatham Borough Police Department and the Morris County Prosecutor’s Office Major Crimes Unit. No additional information will be released at this time.