Memphis police investigate string of title loan robberies - WMC Action News 5 - Memphis, Tennessee

Memphis police investigate string of title loan robberies

MEMPHIS, TN - (WMC-TV) – It's a place Memphians go to get cash for their car title. But lately it's been cash carried out of at least five title loan shops victim to robberies over the past week. 

"People know that they probably keep more money than usual within in the businesses or establishments, therefore they feel it's an opportunity for them to go ahead and take it," said Daniel Peterson. 

Daniel Peterson wasn't at all shocked to hear about Tuesday's robbery at Title Max on Mt. Moriah. It's the latest in a string of crimes that appears to target title loan businesses.  

Earlier this week we showed you surveillance pictures of a suspect robbing the Title Max on Elvis Presley Boulevard at gunpoint. 

So far, Memphis Police haven't said if the incidents are related, but Peterson said it's that time of year when people will do anything for a few extra bucks. 

"Especially with the way the economy is, so they would feel the need to get money anyway they think is possible," he said. 

There are no suspects in the robberies according to police reports. The crooks took thousands in cash from Title Max locations on Austin Peay, Elvis Presley Blvd., and North Thomas Street. A neighborhood title loan store on East Brooks was also robbed on Monday.  

"It's better than any gas station, or fast food place because it's such a big business that holds a lot of money," Peterson said. 

Memphis investigators need help solving the crimes. If you recognize the person in the surveillance video or have more information call Crime Stoppers at 901-528-CASH. 

Copyright 2012 WMC-TV. All rights reserved.

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