Prince George, B.C.- One man is in custody following a knife wielding incident  in downtown Prince George on Wednesday.

Around 2:30  yesterday afternoon, Prince George RCMP received a report of a robbery that had just occurred in a parking lot on the 800 block of Victoria Street in the City.

Several officers attended the area. Indications were that an adult male had made arrangements to return a found cell phone to its rightful owner.

When the owner arrived, the man demanded a higher reward than previously agreed. When the owner refused, the suspect pulled a knife and fled the area on a bike.

Approximately 45 minutes later the suspect was located and arrested hiding near City Hall. The 22 year old Prince George resident was held in custody overnight and was to appear  in Provincial Court today.

The following charges will be recommended to Provincial Crown Counsel:

• Extortion
• Assault with a Weapon
• Possession of a Weapon for a Dangerous Purpose
• Possession of Stolen Property

No injuries were reported. The phone has been returned to its rightful owner.