Metropolitan Superintendent Anthony Wagambie Jr said the suspects were part of a gang that held up staff of a mobile phone company outside ANZ Bank, Market Branch.
“Good investigative work by Lae CID led to one of the suspects being intercepted whilst travelling on a vehicle along 7th Street,” Wagambie Jr said.
“He led police to the next suspect.”
Wagambie Jr said the second suspect is currently out on Court bail for another armed robbery case.
“When he was taken to his residence for a search, the magazines of a pistol which was stolen were found.
“He then led police to the recovery of the semi-automatic Glock pistol which was stolen from the security manager who was escorting the cash for banking.”
Wagambie Jr commended the CID personnel for their efforts in locating the suspects and uniformed support unit for retrieving the firearm.
“The firearm was to be used in other robberies and would have endangered the lives of the general public and police.”
He added that the firearm will be kept as a court exhibit.
The Lae Police Boss said investigations are still continuing and more arrests are expected soon.
(Pistol and magazines recovered by Lae Police. Picture supplied by Metropolitan Superintendent Anthony Wagambie Jr)