German Bank Heist Victims Devastated After Thieves Ransack 3,000 Deposit Boxes
Faqir Malyar, a carpet trader from the western German city of Gelsenkirchen, was driving to visit a customer during the Christmas holidays when he heard shocking news on the radio. Thieves had executed a daring raid on a local Sparkasse savings bank, drilling into the vault and plundering the contents of almost 3,250 deposit boxes. For Malyar, the news was particularly devastating – he had stored his retirement savings and precious family heirloom jewellery in that very bank.
An Unprecedented Criminal Operation
The robbery, which police have likened to a Hollywood film like Ocean's Eleven, has made international headlines due to its scale and sophistication. Investigators estimate the thieves' haul could be worth as much as €300 million (£260 million), potentially making it one of the largest bank heists in German history. Chief investigator André Dobersch described it as an "unprecedented crime" and criticised attempts on social media to make light of the situation.
"We're not talking about safe-crackers in a comic," Dobersch emphasised, "but about criminals who've caused sleepless nights and destroyed livelihoods."
The Victims' Anguish and Financial Ruin
For Malyar, the 67-year-old who had been planning to retire soon with his wife, the reality hit hard when he discovered his deposit box – number 1,413 – was among those emptied. "I felt as numb as if I'd had an injection," he recalled after waiting 45 minutes on a bank hotline to receive the devastating confirmation. His dreams of retirement now appear to have evaporated along with his life savings.
Police believe the thieves carried out their operation over a four-hour period on 27 December. They gained access to the bank from an adjoining car park through a manipulated emergency exit, then used a massive 300kg drill to bore through the vault wall. Remarkably, police were only alerted 48 hours later when a fire alarm was activated, by which time the criminals had long since disappeared.
Security Failures and Growing Concerns
In the aftermath, angry customers gathered outside the bank demanding answers about security measures. Jürgen Hennemann, an insurance lawyer who has represented victims of more than two dozen German bank robberies since 2012, highlighted a worrying trend. "The banks have been constantly warned over 13, 14 years that they are in the crosshairs of organised crime," he revealed, adding that despite these warnings, many institutions have failed to adequately address security shortcomings.
Klaus Nachtigall, former head of Berlin's criminal police office and now a security consultant, expressed frustration at the preventable nature of such crimes. "It's upsetting to know that these acts are preventable. If security systems are working, the alarm should sound at the first sign of a piece of debris falling out of the wall," he told local media.
Inadequate Insurance and Legal Battles Ahead
Many victims face additional distress upon discovering that basic insurance policies will cover only up to €10,300 per box – a fraction of what many had stored. Hans Reinhardt, a lawyer preparing to represent numerous Gelsenkirchen victims, revealed that one client had stored gold bars worth €600,000 to fund his retirement. "Many people told me that out of fear of war and inflation they had moved away from stocks and bank accounts, investing in gold instead," Reinhardt explained.
The Sparkasse network, consisting of about 342 lenders serving approximately 50 million customers, has defended its security measures while providing limited information during the ongoing police investigation. Michael Klotz, head of the Gelsenkirchen branch, described both the bank and its customers as "victims of a burglary carried out with highly criminal energy and using complex technology."
A Community in Crisis
Meanwhile, Malyar's carpet shop near the bank has become an impromptu support centre for fellow victims. "I dish out tea," he said. "I have become something of a counsellor to those in a similar position who come by to share their woes with me." His personal tragedy has transformed him into an unexpected pillar of support for a community reeling from financial devastation.
Three weeks after the heist, the masked suspects – believed to number between five and seven men – remain at large, having escaped in a black Audi and a white Mercedes van with stolen number plates. With about 230 officers assigned to "Operation Drill," the investigation continues as victims face the harsh reality that their life savings and precious possessions may be gone forever.
