The $18.9 Million Heist: Inside America's Largest Cash Robbery

On the night of September 12, 1997, six men executed what would become the largest cash robbery in United States history at that time. Their target: the Dunbar Armored money depot on Mateo Street in Los Angeles' industrial area. Their prize: $18.9 million in cash.

The mastermind behind the operation was Allen Pace III, a 32-year-old former security inspector at Dunbar Armored. Pace's insider knowledge of the facility proved invaluable—he understood the security systems, the layout, and crucially, he possessed a key to a side door.

The robbery unfolded with surgical precision. Around 10:00 PM on September 12, the six-man crew attended a party together, establishing what they hoped would be an alibi. Two hours later, around midnight, they slipped away discreetly, dressed in black and armed for the operation. They parked a rented truck behind the depot and made their entry through the side door using Pace's retained key.

Once inside, speed was essential. The men loaded cash into the truck in under 30 minutes—a remarkably short window for stealing nearly $19 million. Pace removed the hard drives from the security cameras, eliminating potential video evidence of their identities. The crew left no fingerprints at the scene, having meticulously planned to avoid leaving any biological traces.

By 2:00 AM, the perpetrators had returned to the party. While their accomplices acted as though nothing had happened, Pace and the others began dividing the stolen money among themselves at the celebration. The audacity of conducting their heist and returning to their cover story in the same evening demonstrated the level of confidence—or recklessness—they possessed.

The theft shocked law enforcement. An $18.9 million cash robbery represented an unprecedented crime in American history. The FBI launched an intensive investigation into the incident, working in conjunction with local Los Angeles authorities to identify those responsible.

It would take several years, but federal investigators eventually built a case against the conspirators. Allen Pace III was identified as the ringleader and arrested. In 2001, Pace was convicted in the U.S. District Court for the Central District of California on multiple charges: conspiracy, armed robbery, and money laundering. He received a sentence of 24 years in federal prison.

Pace's conviction marked a significant moment in crime history—not only had one of America's largest cash thefts been solved, but the case demonstrated how insider knowledge could be weaponized to circumvent security systems. Despite Dunbar Armored's professional infrastructure and security measures, an employee with access and knowledge had been the critical vulnerability.

The Dunbar Armored robbery remains a landmark case in true crime history, studied by security experts and law enforcement as an example of how even robust systems can be compromised when insiders turn to criminal enterprise. The case underscores the importance of background checks, employee monitoring, and compartmentalization of security information in high-value facilities.

**Sources:** https://www.kriminyt.dk/da/allen-pace-iii--dunbar-rveriet-usas-strste-kup-p-189-mio https://www.scup.com/doi/10.18261/ISSN1504-310X-2010-02-06 https://www.regjeringen.no/no/aktuelt/pm_dugnad/id2892951/ https://www.youtube.com/watch?v=vmcDAzuJUww https://www.bankshift.no/nyheter/finanstilsynet-svindler-utnyttet-sikkerhetshull-hos-en-bank-men-ingen-hendelser-gikk-ut-over-finansiell-stabilitet/326433