Los Angeles, California: Over 30 Million In Cash Stolen In Easter Heist

In one of the biggest money thefts ever seen in Los Angeles, thieves stole around $30 million during a burglary on Easter Sunday at a money storage place in the San Fernando Valley, according to a top official from the Los Angeles Police Department (LAPD).

Source: GMAPS

The burglary happened late on Sunday at a place in Sylmar where money from businesses around the area is kept safe, said LAPD Cmdr. Elaine Morales.

The burglars managed to get into the building and the safe where the money was stored, Morales explained. This theft is one of the largest in Los Angeles history in terms of cash stolen, even bigger than any armored-car robbery.

Source: GMAPS

There’s a lot of mystery surrounding how it happened. People familiar with the investigation told The Times that a group of burglars broke into the Gardaworld building on Roxford Street by going through the roof to reach the vault. But it’s not clear how they managed to avoid setting off the alarm system. The security company, which is based in Canada, hasn’t said anything about the incident.

Source: ABC7

The people who run the business only found out about the theft when they opened the vault on Monday. A video from an ABC-7 TV helicopter showed a big cut on the side of the building covered with plywood.

Source: ABC7

The police were notified, and detectives from the LAPD’s Mission Division station went to the scene to gather evidence. Someone involved with the investigation confirmed that there was an attempt to break into the side of the building where the money was kept, as well as through the roof. At least one alarm went off during the theft, but it wasn’t connected to local law enforcement, according to a source familiar with the investigation.

Adding to the mystery is the fact that very few people would have known about the large amount of cash kept in that safe, according to law enforcement sources.

The break-in was described as very elaborate and done by a skilled crew who knew how to get into a secure place without being noticed.

Scott Selby, who wrote a book about a big diamond heist, said this theft seems like a well-planned job done by professionals. He mentioned that similar heists have happened before and that investigators will be looking worldwide for similar cases.

As for whether the stolen money can be traced, Selby said it depends on whether there are records of the serial numbers of the bills or if the stolen cash is already in circulation. He mentioned that it’s hard to hide stolen money and launder bills that can be traced.

The FBI confirmed they’re working with the LAPD on the investigation.

A source from the federal government said investigators are trying to figure out exactly how much money was stolen but said it could be the biggest cash theft in Los Angeles history.