Safe containing $10 million stolen from LA home

[StreetsOfGold]

http://hosted.ap.org/dynamic/stories/U/US_STOLEN_SAFE?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-04-02-17-48-16

LOS ANGELES (AP) -- Los Angeles police say burglars who broke into a Hancock Park home stole a safe believed to contain $10 million in cash, jewelry and other items.
A Police Department statement Monday says investigators believe crooks jumped a security gate and smashed a glass side door to enter the home in the wealthy neighborhood on March 16.
Police say the burglars took the safe from a walk-in closet, and used a rug to move it down some stairs and out the front door. Police officers responding to a security alarm discovered the burglary.
Investigators are seeking the public's help in catching the thieves.
The victim's name has not been released.

Break-down

"$10 million in cash, jewelry and other items."

Cash = 20,000 federal reserve notes
Jewerly worth = 100,000 federal reserve notes
"other items" Gold Silver = 9,880,000

[EE_]

Who would leave that kind of loot in a safe that's in plain sight? A fool and their money...?

[palani]

Cash = 20,000 federal reserve notes
Jewerly worth = 100,000 federal reserve notes
"other items" Gold Silver = 9,880,000

Interesting.

Cash ... in FRNs
Jewelry ... in FRNs
Gold and Silver ... 9,880,000 of something or other

Kind of reminds one of the postage stamps you get these days .... 44 ... or 37 ... completely dimensionless ,, non-negotiable ... just a number

and if that 9,880,000 were entirely silver .. it would weigh 11.76 tons .. at 35/oz

and if that 9,880,000 were entirely gold ... it would weight 470.5 lbs ... at 1750/oz

[lapis]

"$10 million in cash, jewelry and other items."

Uh huh, nice use of euphemism there AP. But the ballbusters at GSUS caught ya. ;-)

[ShortJohnSilver]

IT's LA - some will be in drugs.

[Horn]

http://www.thebigbadbank.com/jewish-lightning/


http://www.youtube.com/watch?v=95bgCKVOXCE

[gunDriller]

Interesting.

Cash ... in FRNs
Jewelry ... in FRNs
Gold and Silver ... 9,880,000 of something or other

Kind of reminds one of the postage stamps you get these days .... 44 ... or 37 ... completely dimensionless ,, non-negotiable ... just a number

and if that 9,880,000 were entirely silver .. it would weigh 11.76 tons .. at 35/oz

and if that 9,880,000 were entirely gold ... it would weight 470.5 lbs ... at 1750/oz

must have been jewelry, cash, and gold.

"burglars took the safe from a walk-in closet, and used a rug to move it down some stairs and out the front door."


can't just hold it & own it. also have to tie it down good. and make sure there's no way for someone to use a truck to winch it out.

i wonder how much the safe weighed in total ? i imagine $10 million will pay for some hernia surgery.

[solid]

If this was in a very wealthy neighborhood, I imagine that there was not 10 million in there. 10 million was what was reported missing...there could be 1 million and the folks want the insurance claim of 10 million.

Sounds like an inside job. There's a lot of insurance fraud going on.

[Son-of-Liberty]

So the safe wasn't secured very well then? If I had a tenth of what was in that safe it would be poured in concrete. Not doing to leave it somewhere where thieves can just walk out with it.

I do agree though, could be an insurance scam or something.

[EE_]

So the safe wasn't secured very well then? If I had a tenth of what was in that safe it would be poured in concrete. Not doing to leave it somewhere where thieves can just walk out with it.

I do agree though, could be an insurance scam or something.

No visible safe is secure.
How quick would you open it if the robber had a gun to your child or wife's head?

[solid]

No visable safe is secure.
How quick would you open it if the robber had a gun to your child or wife's head?

Good point. It could be a good idea to have a decoy safe, with some cash, fake jewelry, etc, for this purpose. Enough cash, based upon your living conditions, to be believable to the robber...but not too much to cause a life changing loss.

Has anyone seen the movie "Trespass" with Nicholas Cage? It touches on this subject.

[Grad]

lessons:

- bolt the safe to the floor

- stuf it up with a lot of dead weight to make it harder to move, f.e. heavy lead (i.e. ammo), silver (ingots)

- make sure that responce time for burglar alarm is shorter than amount of time it takes to extract your safe

[Twisted Titan]

Inside job

What was the time of break in?

How did they know a safe was in the closet?

How much time was spent moving this safe?

How did they get a 10 million dollar estimate so quickly because insurance companies Rarely write polices on graded coins and they wont insure bullion cause they can't assign.a specific value.


Like I said: inside job

[Xizang]

I keep thinking about this thread, and I keep coming back to thinking that if the guy really was ripped off, how he should have taken a small fraction of that $10 Million to build a solid 'Safe Room' in the house, with a built in safe inside it. The Safe Rooms I've seen were poured concrete with steel rebar reinforcing. They're quite common these days in the larger/pricier custom homes.

Otherwise, my only conclusion is, insurance fraud.