Bond for the 31 year-old Guadalupe Fajardo is set at $1,150,000.
Police are still searching for two other suspects. The FBI believes the men may be in the Midland-Odessa area. Investigators say Fajardo has extensive ties to Odessa.
"The investigation is very much ongoing in the local area, very much. That's why we need people who may think that they may have information on this to go ahead and contact law enforcement where we can get to the bottom of this as fast as possible," said Bill Vanderland, FBI.
The group is suspected of more than 70 armed robberies in North Texas and are considered armed and dangerous.