BOSTON – Steven Madison, a 39-year-old resident of Bridgewater, has pleaded guilty in federal court to his role in an armed robbery targeting a cash courier for licensed cannabis companies. The incident occurred outside a BayCoast Bank in Swansea, Massachusetts, on February 19, 2024. Madison admitted to charges that include robbery, conspiracy to commit Hobbs Act robbery, brandishing a firearm during a violent crime, felon in possession of a firearm, and possession with intent to distribute cocaine.
During the robbery, Madison and two accomplices allegedly zip-tied and pepper-sprayed the courier, who was transporting approximately $436,200 in cash for deposit. After the robbery, they set the getaway vehicle, a rental van, on fire. Madison’s plea follows his arrest in May 2024, when he was taken into custody alongside Christopher White and Quentin McDonald. A fourth suspect, Elgun Mikaiylov, a former manager at one of the cannabis dispensaries, was charged later for allegedly providing intelligence about cash pickups and assisting in planning the robbery.
On the day of the robbery, Madison and White stole a rental van from a U-Haul location. They followed the courier to the bank, where White exited the van wearing a camouflaged vest and brandished a firearm at the courier. After zip-tying the courier’s hands, Madison loaded the cash into the van, while White allegedly attempted to disarm the courier, pepper-sprayed him, and forced him into the back seat of his own vehicle.
Surveillance footage captured the courier managing to free one hand, draw his weapon, and fire four shots at the fleeing U-Haul van before contacting authorities. Following the robbery, Madison and White transferred the stolen cash to a waiting SUV driven by McDonald. They then burned the rental van to destroy evidence.
A search of Madison’s residence revealed a pistol and over 400 grams of cocaine. He has a history of convictions, including masked armed robbery, assault and battery with a dangerous weapon, and illegal firearm possession.
The Hobbs Act robbery and conspiracy charges carry a potential 20-year prison sentence, while the firearm charge mandates a minimum of seven years, to be served consecutively. Additionally, Madison could face up to 15 years for being a felon in possession of a firearm and up to 20 years for the cocaine possession charge, which also includes the possibility of a $1 million fine.
Sentencing has not yet been scheduled, and the case continues under the prosecution of Assistant U.S. Attorney John J. Reynolds III and Special Assistant U.S. Attorney Patrick Driscoll. The investigation involved collaboration with various law enforcement agencies, including the Massachusetts State Police and Swansea Police Department. Madison and the other defendants remain presumed innocent until proven guilty in a court of law.
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