( CNN ) -- A man was arrested and charged in Thursday 's deadly armored car robbery in Philadelphia , Pennsylvania , police said Saturday . Bank surveillance video shows a gunman in a yellow cap firing at armored-car guards . Mustafa Ali , 36 , was charged with two counts of murder , robbery and other related offenses in the shooting deaths of two Loomis armored car guards and theft of cash at a bank ATM . Ali was picked up on Friday and questioned overnight before he was charged . Ali , who is not expected to get bail , was to have a preliminary arraignment within 24 hours . Police also seized his vehicle . The victims were identified as retired police officers Joseph Alullo , 50 , and William Widmaier , 65 . Each had more than 20 years on the force . Alullo retired in 2003 and Widmaier retired in 1999 . A third guard was wounded in the robbery . The gunman took an undetermined amount of money , police said . They were searching for a man who fled the scene dressed in a black shirt and blue jeans with a yellow cap and traveling in a black Acura TL with tinted windows and a sunroof . The guards were attacked shortly after 8 a.m. as they were servicing an ATM outside a Wachovia Bank branch near Roosevelt Mall in northeast Philadelphia , police said . The gunman fired at two guards who were outside the armored car and at the third guard , who was inside . Watch video images of the gunman at the scene » . The third guard was hurt by flying glass when a bullet shattered one of the vehicle 's windows , said Mark Clark , a spokesman for Loomis , the company that owns the armored car . Police said they found an empty black duffel bag behind an off-track betting parlor near the scene of the crime that may have been taken from the armored car after the shootings . Several elementary schools in the area were briefly locked down after the incident . The nearby Roosevelt Mall was also shut . The bank branch is located near entrances to I-95 and I-76 , either of which , police said , could have served as an escape route . Police were reviewing security tapes from the bank 's cameras . E-mail to a friend .
NEW : 36-year - old man held on murder , kidnapping , other charges . NEW : Suspect picked up Friday , questioned overnight . Two guards killed in armored vehicle accident outside bank ; a third guard wounded . Guards were servicing drive - up truck outside Philadelphia bank .