PORTLAND, Ore. — A Portland man with a long history of robberies has been sentenced to nearly 13 years in federal prison after a failed bank robbery in which he accidentally left his loaded gun behind.
According to the U.S. Attorney’s Office, 55-year-old James Michael Wallace was sentenced to 12 years and 11 months in prison, followed by five years of supervised release. He was also ordered to pay $6,437 in restitution for losses linked to his previous robberies.
The February 2025 Heist
Court records show that on February 28, 2025, Wallace entered the KeyBank branch on Southeast Woodstock Avenue in Portland. During the robbery, he pressed a loaded handgun into a teller’s torso and demanded cash from the register.
Also Read
The teller complied, handing Wallace $856 in cash. But in his haste to escape, Wallace forgot his loaded firearm at the scene, a mistake that would quickly lead investigators to identify and capture him.
At the time of the robbery, Wallace was already under federal supervision for a previous bank robbery conviction — a violation that significantly increased his sentence.
Guilty Plea and Sentencing
Wallace pleaded guilty on August 27, 2025, to one count of armed bank robbery. During sentencing, prosecutors highlighted his extensive criminal record and the danger posed by his repeated violent offenses.
The case was jointly investigated by the Portland Police Bureau and the Federal Bureau of Investigation (FBI). Assistant U.S. Attorney Katherine A. Rykken prosecuted the case.
A Costly Mistake
Authorities described the incident as both reckless and telling of Wallace’s criminal history. Though no one was physically harmed during the robbery, prosecutors said leaving a loaded weapon behind in a public bank underscored the ongoing threat posed by habitual offenders.
With his sentence now finalized, Wallace faces more than a decade behind bars — a costly consequence for what turned out to be an $856 mistake.
