PHOENIX - A 69-year-old Glendale man has been arrested for shooting his business partner to death nearly 20 years ago.
Dean Richmond Babbitt IV was formally charged with first-degree, premeditated murder Tuesday in Maricopa County Superior Court and bail was set at $750,000.
Prosecutors say 41-year-old Robert Krahn was shot in the back of the head Feb. 3, 1996 at his used office furniture business in Phoenix.
They say the two men were clearing a storage room at the time.
Police say the short time frame in which the shooting occurred and other evidence led to Babbitt's arrest.
Authorities say Krahn was killed with a handgun that the Babbitt had reported stolen in 1995.
He is scheduled to appear in court next May 6.
ABC15 spoke to Krahn's family who says they want justice and fully support the efforts of Phoenix Police detectives.
The Krahn family is expected to speak at a press conference Thursday morning.