In May 1990, an ordinary Wednesday morning turned into a harrowing experience for bank courier John Goddard in the City of London. He fell victim to a knife-wielding assailant who stole his briefcase containing 301 City bonds valued at £292 million, equivalent to £850 million today. Despite extensive efforts by the City of London Police, the perpetrator managed to evade capture swiftly.

This audacious heist, labeled as “the biggest heist you have never heard of,” has now become the focus of a documentary series on Crime+Investigation. The program sheds light on the intricate criminal scheme orchestrated by a network involving the New York mafia, the IRA, and Colombian drug lords. The mastermind behind the operation remains unidentified, with low-level criminal Patrick Thomas, suspected of executing the initial theft, meeting a fatal end due to perceived knowledge of the incident.

Keith Cheeseman, the sole individual convicted in connection to the heist, served a six-and-a-half-year sentence for conspiracy to launder the stolen bonds. While authorities claim to have recovered most of the bonds, Cheeseman asserts that the actual value of the stolen bonds was significantly higher, approximately £427 million, suggesting an unreported £135 million remains unaccounted for.

Now residing in Turkey at 83, Cheeseman recounts his involvement, hinting at an inside job within the banking sector. His association with a network of criminals, including deceased figures like Raymond Ketteridge and Mark Osborne, paints a picture of high-stakes dealings that climaxed with the transfer of bonds to a mafia contact in New York.

The unraveling of the plan occurred when an undercover FBI agent exposed the criminal activities, leading to Cheeseman’s conviction. Journalist Marcel Theroux, intrigued by the unresolved mysteries of the heist, describes the incident as a remarkable theft that went unnoticed for years, despite its colossal scale.

Cheeseman’s reflections on his criminal past reveal a descent into illicit activities following a financial setback in his legitimate business. Despite the repercussions of his actions, Cheeseman nostalgically recalls the lavish lifestyle crime afforded him, hinting at a belief that crime, indeed, pays well.

The documentary series delves into the lives of various characters linked to the heist, bringing to light a shadowy world of crime, deception, and high-stakes maneuvering. The involvement of individuals like Marvin Herbert and Jimmy Tippett adds layers to the narrative, showcasing the diverse personalities entangled in the infamous bond theft.