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A 26-year-old Arlington Heights man who allegedly confessed to the armed robberies of a Buffalo Grove currency exchange and an Arlington Heights hair salon was ordered held Wednesday in lieu of $150,000 bond, authorities said.

Christopher J. Papreck, of 309 Happfield Rd., was charged Tuesday night with two counts of armed robbery, police said.

On Wednesday, Buffalo Grove Fire Department divers recovered a pellet gun replica of a .45-caliber handgun that Papreck is alleged to have used in the robberies and later dumped in a retention pond at Happfield and Arlington Heights Roads.

Papreck, who had no previous criminal record and recently lost his job as a department store clerk, was implicated in an Aug. 15 holdup at B.G. Currency Exchange, 1405 W. Dundee Rd., and an Aug. 8 robbery of a Borics Family Hair Care Center at 954 W. Dundee Rd., police said. He was identified in a lineup by a witness to one of the robberies, police said.