Biggest robbery in UK history: what was the largest heist, how much was stolen, who was involved?

The 1983 Brink’s-Mat robbery - the subject of BBC drama series The Gold - was the largest UK heist at the time, with £26 million (over £100 million today) in gold, diamonds and cash stolen.

Today, the Brink’s-Mat robbery doesn’t even make it into the top five British robberies (the Securitas Depot robbery, Tamara Ecclestone jewellery theft, and Knightsbridge Security Deposit robbery are among higher-value crimes) although it is the third biggest when adjusted for inflation.

The largest heist in the UK, both in terms of the original amount stolen, and its value today when adjusted for inflation, took place seven years after the Brink’s-Mat robbery and dwarfs the earlier crime in its scale.

Despite the shocking value of the amount stolen in Britain’s biggest robbery, police originally believed it to have been the work of just one man, a ‘lucky mugger’, although it later transpired that the crime was probably connected to an international criminal network.

This is everything you need to know about the The City bonds robbery, the highest value theft in British history, and what happened to the stolen goods.

What was the City bonds robbery?

On the morning of 2 May 1990, John Goddard was mugged at knifepoint in the City of London whilst carrying an extremely valuable package. The 58 year old had been carrying hundreds of bearer bond certificates, most of which were worth £1 million each.

The bonds could be used in much the same way as cash to anyone carrying them, with no need of ID. The mugger took 301 of the bonds with a total value estimated at £292 million (worth more than £700 million today).

Originally thought to have been the result of a ‘lucky’ mugging, the crime was later believed to be connected to an international crime ring with connections to the US. Two months after the robbery, a Texan businessman tried to sell some of the bonds to a man who turned out to be an undercover officer.

The man was then turned and used to find other members of the gang who had been involved in the theft. One of the men caught by this method was Keith Cheeseman - he was sentenced to six and a half years for money laundering.

John Traynor was also arrested for his connection to the crime - he was charged with mortgage fraud and had used the stolen bonds as collateral - he was sentenced to seven years for handling stolen goods. He absconded from prison and was later re-arrested in the Netherlands and returned to the UK to serve out the remainder of his sentence.

Four others were charged for their involvement in handling the stolen money - they were not charged as no evidence was presented at their trial.

Police believe the City mugging was carried out by Patrick Thomas - a South London criminal. Thomas was found dead from a gunshot wound to the head in December 1991 - he was never charged with the robbery.

What happened to the stolen city bonds?

British police and the FBI successfully infiltrated the gang involved in laundering the stolen bonds - they were able to recover 299 of the 301 stolen bonds - well over 99%. By the time they were recovered, the bonds had made their way to Glasgow, New York, Miami, and Zürich.

All told, the actual amount successfully stolen in the robbery was probably less than £2 million, a paltry sum compared to the £292 million originally taken.

What are the biggest robberies in British history?

When adjusted for inflation these are the 10 biggest robberies in British history:

1. City Bonds Robbery (1990) - Contemporary value: £292 million. Value today: £705 milion
2. Knightsbridge Security Deposit robbery (1987) - Contemporary value: £40 million. Value today: £125 million
3. Brink's-Mat robbery (1983) - Contemporary value: £26 million. Value today: £94 million
4. Securitas depot robbery (2006) - Contemporary value: £53 million. Value today: £82 million
5. Bank of America, Mayfair robbery (1975) - Contemporary value: £8 million. Value today: £71 million
6. Great Train Robbery (1963) - Contemporary value: £2.6 million. Value today: £57.9 million
7. Graff Diamonds robbery (2009) - Contemporary value: £40 million. Value today: £57.1 million
8. Tamara Ecclestone jewellery theft (2020) - Contemporary value: £50 million. Value today: £52 million
9. Ramsbury Manor heist (2006) - Contemporary value: £30 million. Value today: £46 million
10. Baker Street robbery (1971) - Contemporary value: £3 million. Value today: £45 million