PORTLAND, Ore. - A 71-year-old retired math teacher who was arrested in connection with a string of bank robberies in the so-called 'Waddling Bandit' case, and who was later cleared, will now be collecting some money from the FBI.

The FBI released a statement Friday saying they had agreed to pay Robert Christie a settlement to cover the expenses he incurred during his arrest and incarceration late last year.

"This was simply the right thing to do, given the circumstances," Special Agent in Charge, David Ian Miller, said in the statement.

Christie was arrested back in October after a poker player at a Lincoln City casino told police that a surveillance photo printed in a newspaper resembled a fellow poker player (Christie). 

The FBI later dropped all charges against Christie after he provided them with several alibis.  He was released from jail and allowed to go home.

The FBI statement also addressed Christie's arrest and subsequent release:

The FBI has and continues to maintain that there was enough “probable cause” to arrest and detain Mr. Christie in connection with the October 16, 2007, bank robbery in Albany, Oregon. However, the FBI acknowledges that the level of evidence was insufficient to proceed beyond the probable cause threshold and that the arrest and detention were a financial hardship for Mr. Christie.

The amount of the settlement was not disclosed.