June 13, 2014 12:00 pm

Police raids in armoured car robbery investigation lead to 5 arrests

TORONTO – Toronto police announced they have arrested five people following a series of raids Thursday morning in connection to an armoured car robbery that took place at a Toronto mall earlier this year.

Investigators will update the operation nicknamed “Nose Dive” during a media briefing Friday morning.

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The arrests stem from a robbery on Jan. 20 outside Fairview Mall when a silver 2000 Dodge Caravan pulled up alongside the armoured vehicle and two armed suspects confronted the guards.

Shots were exchanged but police say there were no injuries.

Police say the suspects grabbed a bag of money before fleeing and the getaway van was later found abandoned about a kilometre away.

In May, a security company offered a reward of up to $10,000 for the arrest and conviction of those responsible for the robbery.

Toronto police also released security footage of the incident asking for the public’s assistance in identifying the suspects.

WATCH: Toronto police carried out raids Thursday morning in North York.

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