Thieves Steal Up to $105 Million in German Bank Heist

The Heist Technique Resembles 'Ocean's Eleven'

Thieves stole goods worth up to $105 million from the vaults of a retail bank in Gelsenkirchen, North Rhine-Westphalia, during the Christmas holiday, according to German police. The German news agency dpa reports that this heist could be one of the largest in the country's history.

Details of the Heist

According to the police, the thieves accessed a Sparkasse bank branch in Gelsenkirchen through an adjacent parking garage at a time when the business was closed for the holidays. They used a large drill to penetrate a thick concrete wall, gaining access to an underground vault room. Subsequently, they forced open approximately 3,000 safes, making off with cash, gold, and jewelry.

Officials' Comments

A police spokesperson compared the heist to the movie "Ocean's Eleven," describing it as "very well executed." Authorities were alerted by an alarm system that sounded on Monday, but they did not confirm when the heist actually took place.

Estimates of the Stolen Goods' Value

Investigators estimate the total value of the stolen goods to be between 10 million and 90 million euros ($11.8 million to $105.7 million). The police indicated that the average insured value of each safe was over 10,000 euros ($11,700), but many customers reported that the items in their safes were significantly more valuable than the insured amounts.

Reactions from Bank Customers

On Tuesday, angry customers gathered outside the bank branch demanding explanations. Following threats made against the employees, the bank remained closed for security reasons. The police spokesperson stated that "the situation has calmed considerably."

Bank's Response

The bank has begun notifying all customers affected by the heist and has established a hotline for them. It is also working with insurers to determine how claims will be managed. "We are shocked," said the bank's spokesperson, Frank Krallmann. "We stand with our customers and hope that the perpetrators will be caught."