Thieves made off with approximately $30 million on Easter Sunday in “one of the largest cash heists in Los Angeles history,” the Los Angeles Times reported.
The heist took place on Sunday night at a money storage facility in Sylmar, where cash from businesses in the region is handled and stored, said L.A. Police Department Cmdr. Elaine Morales.
Morales said the culprits were able to access the building, as well as the safe where the money was kept.
“Law enforcement sources said the burglary was among the largest in city history when it comes to cash, and the total also surpassed any armored-car heist in the city,” according to the report.
“Sources familiar with the investigation told The Times that a burglary crew broke through the roof of the Gardaworld building on Roxford Street to gain access to the vault. But it is unclear how they avoided the alarm system,” the report continues, noting that the Canada-based company did not respond to requests for comment.
Business operators did not discover the theft until they opened on Monday. A local news helicopter video revealed a “large cut on the side of the building covered by a piece of plywood,” the report states.
A law enforcement source told The Times that there was an effort to break into the side of the building as well as the roof, and that at least one alarm not connected to local law enforcement went off during the crime.
Damage to a wall seems to be under repair at Gardaworld in Sylmar on Thursday, April 4, 2024. (Myung J. Chun / Los Angeles Times via Getty)
Law enforcement sources also noted that only a few people would have known about how much cash was in the safe.
“The break-in was described as elaborate and suggested an experienced crew who knew how to gain entry to a secure facility and go unnoticed,” according to the report.
Scott Andrew Selby, co-author of “Flawless: Inside the Largest Diamond Heist in History,” told the publication that the heist has “all the markings of a really well-thought-out job” by a “professional crew.” Selby speculated that the thieves likely had some inside intelligence, and said investigators will be “looking around the globe for crimes with a similar M.O.”
When asked if the money could be traceable, Selby said it could be, depending on whether there are records of serial numbers or the cash had already been in circulation. He said hiding and laundering that amount of cash is difficult to do under the radar.
“As technology progresses and the world gets small, there are a lot of ways you can mess up and get caught,” Selby said. “With touch DNA, the slightest mistake can expose the identity of a member of the crew, leading authorities to eventually identify their associates.”
An FBI spokeswoman confirmed to the Times on Wednesday that they are investigating the incident along with the LAPD.
Until this Easter theft, the last largest cash robbery recorded in Los Angeles was $18.9 million from the former site of the Dunbar Armored facility on Mateo Street on September 12, 1997. The burglars behind the incident were ultimately caught.
