03/15/2012 11:31 am ET Updated Mar 16, 2012

Steven Lee Wright Arrested: Bank Robbery Leads Portland Cops To Fugitive Of Nearly 30 Years

Police in Oregon busted a wanted fugitive of nearly three decades on Monday after he robbed a bank just one day before his 60th birthday.

Steven Lee Wright, wanted in Michigan on parole violations for 28 years, confessed to entering the Sterling Savings Bank on Northeast Sandy Boulevard and demanding cash from tellers, according to a press release from the Portland Police Bureau.

Wright explained to authorities that life on the lam left him broke.

"He told me he flipped a coin to decide whether he would turn himself in or rob a bank," Portland Police detective Brett Hawkinson wrote in his report, according to the Oregonian. "The coin landed heads, and [he] chose to rob the bank."

Authorities say that Wright entered the bank shortly after 5:30 p.m. on Monday. "Money, now," he told the teller, before leaving with $2,567. Witnesses called the police and tailed the suspect, whom officers arrested a short time later, KOIN reports.

Police said that the 60 year old, wanted since October of 1983, was armed with a handgun, pepper spray, stun gun, brass knuckles and knives.

Before going on the run, Wright served time for convictions including felony armed robbery and breaking and entering. Michigan records show that Wright used several aliases over the years, including "Stafford Julian Coolbaugh" and "Timothy Morris McKellar."

Anyone with information on Wright is asked to contact Detective Brett Hawkinson at 503-823-1080 or