Santa Robs Bank To 'Pay The Elves' (VIDEO)

03/18/2010 05:12 am ET | Updated May 25, 2011

It appears eager little children won't be the only ones staying up late trying to catch Santa Claus. The FBI is getting in on the hunt after a man dressed as Santa robbed a bank in Tennessee.

Astonished and frightened eyewitnesses said the man remained in character the whole time and justified his actions because he need to "pay the elves." Said one witness: "It was a little unbelievable. He was actually jovial, which is scary. And he explained that he was robbing the bank because Santa had to pay his elves."

The FBI agent interviewed below does not seem optimistic that he will be caught: "Dressed as Santa is an excellent disguise."