The FBI is now offering $40,000 for information leading to the arrest of a bank robber the agency has dubbed the "Time Bandit."

The person wanted in the robberies of 11 banks in the Chicago area was dubbed the "Time Bandit" because of his method of escape. He demanded employees of the banks he robbed count to 300 before calling police.

Originally, the FBI offered $20,000 for information leading to the suspect's arrest. It had been raised to $35,000.

The most recent bank robbery believed to have been committed by the "Time Bandit" occurred July 25 in Homer Glen. The man entered a MB Financial Bank branch shortly before closing time.

According to the FBI, the armed robber forced bank employees into the vault and ordered them to fill a duffel bag with cash.