ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / ECONOMY & WORK

$30 Million Stolen From Security Company in Los Angeles On Easter Sunday

The suspects reportedly broke in through the roof and also managed to avoid triggering the theft alarm at the facility in the Sylmar area of the San Fernando Valley. 
PUBLISHED APR 8, 2024
Cover Image Source: YouTube | KTLA 5
Cover Image Source: YouTube | KTLA 5

Over $30 million from a money storage facility in Los Angeles was stolen on Easter Sunday in one of the biggest cash heists in the city's history, as per the Los Angeles Times. The suspects reportedly broke in through the roof and also managed to avoid triggering the theft alarm at the facility in the Sylmar area of the San Fernando Valley. 

While Los Angeles police refrained from naming the place where the theft took place, KABC-TV reported that it took place at GardaWorld, a global cash management and security company. 



 

Police also said that there was no indication of a heist from outside and that the missing cash was not discovered until the vault was opened on Monday. As per KABC-TV, an "apparent hole" was seen on the side of the building that was "boarded up," with a pile of debris next to it. 

Now, the theft is being investigated by the Federal Bureau of Investigation and the LAPD jointly. As per the law enforcement, the incident was perplexing, given that only a handful of people would have known about the money in the safe," via USA Today.

Experts say that the heist was pulled off by a "top-notch" group of criminals and may go unsolved. "This is a group that would have to have a lot of prior experience,” said Scott Selby, a Harvard-educated lawyer and co-author of “Flawless," a book about the famous Antwerp Diamond Heist, to The Post.

"It’s like if you were a gymnast, you know, by the time you’re world-quality, you’ve already done a lot of work," Selby added.

"We know they’re good because they got in and out without anybody noticing. And so far, there’s nothing obvious that leads the LAPD and FBI to know who they are," the expert added. 

The expert also talked about the possibility of this being an inside job, saying that "could very much be the case."



 

The heist immediately caught the attention of netizens who drew parallels with the 2022 $100 million in jewels heist in Los Angeles. Many took to X, formerly known as Twitter to share their thoughts.

"$30 million cash on hand and you’re telling me there is no human security team on site? Wow," writes @TomD80106675., while @Glendaragnarson, says, "That sounds like an inside job or inside assistance!"

In another incident last year, a huge "flash mob" robbery hit a high-end Yves Saint Laurent (YSL) store where the thieves managed to steal around $400,000 worth of clothes and accessories. 



 

The robbery was captured on camera and some videos made it online. In the video, a group of individuals were seen dressed in dark clothes and masks, storming into the store. The thieves then grabbed the cash and fled the scene in a matter of seconds. 

According to FBI Statistics, the crime rate in the country has dropped. However, the general perception says the opposite. "I don't believe it, plain and simple. I don't believe it because we're experiencing different results," Auriol Sonia Morris -- a South Carolina education, finance, and legal consultant who describes herself as a Black conservative Republican and a supporter of former President Donald Trump -- told ABC News.

MORE ON MARKET REALIST
Economists feel that Warsh's ability to retain the independence of the Fed will decide his legacy.
3 hours ago
The contestant seemed nervous at one point but she absolutely nailed the game.
3 hours ago
Gold has been touted as one of the safest assets to invest in given the current state of the world.
3 hours ago
Scammers are getting highly innovative and the Super Bowl season is the best time for duping.
4 hours ago
The President recently wrote an opinion piece in which he claimed that his tariffs saved the US.
5 hours ago
The retailer has been at the center of a lot of controversy of late, and this just adds to it.
8 hours ago
Experts warn Trump’s Fed chair pick could be the most 'hawkish' ever
8 hours ago
"Just too bad he was one of those contestants that, no matter how easy it is, you can't put two and two together," fan reacted.
14 hours ago
Federal Reserve Bank of Kansas City estimated 19,000 jobs/month could've been added without tariffs
1 day ago
Rising costs and uneven gains are leaving many Americans financially strained.
1 day ago
The luxury real estate broker argued that the measure would drive billionaires out of the state.
1 day ago
During an exclusive dinner at Capitol Hill on Saturday, the president reportedly did a "roast".
1 day ago
Missing the IRS deadline can lead to rising penalties and added interest charges.
1 day ago
The president says any settlement in his IRS tax records case would be directed to charity.
1 day ago
Expanded SNAP work rules begin, cutting benefits and narrowing eligibility across the U.S.
1 day ago
She said that she had played some golf with her husband from time to time.
3 days ago
The administration failed to do good on the deadline that was set by the courts.
3 days ago
The President claimed that the BLS was run by "weak and stupid people" prior to this.
3 days ago
More than 40 million low-income and vulnerable families depend on SNAP to make ends meet.
3 days ago
If these claims turn out to be true, the Republicans will have a hard time during the Midterms.
3 days ago