For Immediate Release - March 30, 2012

Saugus Bank Robber Held on $1 Million Bail

Michael Ginnetti, 38, was ordered held on $1 million cash bail by Judge Stacey J. Fortes-White today in Lynn District Court.  Ginnetti is charged with armed robbery while masked, 6 counts of assault & battery with a dangerous weapon, illegal possession of a firearm, use of a firearm while committing a felony, and use of body armor while committing a felony in connection with the March 23rd armed robbery at the Saugusbank located at 412 Lynn Fells Parkway in Saugus. 

Essex Assistant District Attorney Lisa Core withdrew the dangerousness petition and asked the Court instead to revoke Ginnetti’s bail on a pending case and hold him on $1 million bail.  Ginnetti was arraigned on cocaine trafficking, possession of class B drugs, carrying a dangerous weapon, illegal possession of a firearm and ammunition charges in Lynn District Court on November 28, 2011.  The Essex District Attorney’s Office asked that he be held on $100,000 bail but he was released on $15,000.

Ginnetti is due in Lynn District Court for a Probable Cause Hearing on April 30, 2012 on the bank robbery charges and in Salem Superior for a Pre-Trial Conference on April 25, 2012 on the drug and firearms charges.

Ginnetti is presumed innocent on all charges until proven guilty in a court of law.

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