Local man found not guilty on all charges after $430,000 stolen from licensed cannabis companies courier in Swansea at gunpoint

BOSTON – A local man has been found not guilty in federal court after being arrested for his alleged involvement in the armed robbery of a cash courier for licensed cannabis companies outside a bank in Swansea, Massachusetts, in 2024.

Elgun Mikaiylov, a former manager at a Fall River cannabis dispensary, was charged in an updated indictment for allegedly providing information about cash pickups and couriers, assisting in planning the robbery, and sharing in the proceeds but was acquitted last month on all charges.

In the case, Steven Madison previously admitted guilt to charges including one count of robbery, one count of conspiracy to commit Hobbs Act robbery, one count of brandishing a firearm during a violent crime, one count of felon in possession of a firearm and ammunition, and one count of possession with intent to distribute cocaine.

In May 2024, Madison was arrested alongside Christopher White and Quentin McDonald in connection with the robbery. Mikaiylov was later charged in an updated indictment.

On February 19, 2024, Madison and an accomplice stole a rental van from a U-Haul location in Abington, Massachusetts. Later that day, an armed courier transporting approximately $436,200 in cash for deposit arrived at BayCoast Bank in Swansea. Madison and, allegedly, White followed in the U-Haul van. White reportedly exited wearing a camouflaged vest, pointed a firearm at the courier, and zip-tied his hands. Madison then loaded the cash into the van, and the two allegedly attempted to disarm the courier, forced him into his car’s back seat, pepper-sprayed him, and shut the door.

Surveillance footage captured the courier freeing one hand, drawing his weapon, and firing four shots at the fleeing U-Haul van before calling 911. Afterward, Madison and White allegedly drove to a nearby spot in Swansea where McDonald waited in an SUV, transferred the cash, burned the van, and escaped.

A search of Madison’s Bridgewater home uncovered a pistol and over 400 grams of cocaine. He has prior state convictions for masked armed robbery, assault and battery with a dangerous weapon, and illegal firearm possession.