Ward and McMullan, under constant surveillance from the gang, reported to work as usual on Monday. Early in the evening, they staged a “test run,” withdrawing £1 million in banknotes, which was collected by one of the robbers. This successful trial set the stage for the main heist later that night. The pair loaded trolleys with crates of cash, disguising the money with office furniture and rubbish to evade suspicion. The gang returned with a white van to collect their loot in two trips. By the time they were done, they had stolen millions in used and uncirculated banknotes.
Aftermath and Investigation
The heist sent shockwaves across Northern Ireland. The criminals had made off with £16.5 million in uncirculated Northern Bank notes, £5.5 million in used Northern Bank notes, and £4.5 million in mixed currencies, including euros and US dollars. While the bank immediately announced the serial numbers of the new notes, rendering them nearly impossible to use, the used notes were untraceable, complicating the investigation.
The Police Service of Northern Ireland (PSNI) launched an extensive investigation, enlisting 50 detectives. PSNI Chief Constable Hugh Orde quickly blamed the Provisional Irish Republican Army (IRA), a claim backed by the British and Irish governments. However, Sinn Féin and the IRA denied involvement, dismissing the accusations as politically motivated.
Breakthroughs and Arrests
In February 2005, the Garda Síochána in the Republic of Ireland seized £2.3 million at the Cork home of financial adviser Ted Cunningham. Further arrests and raids uncovered money laundering operations, with some suspects linked to Sinn Féin. However, despite multiple arrests, including Cunningham’s eventual conviction for laundering stolen money, no one was ever directly charged with the robbery itself.
A notable twist came when Chris Ward, one of the bank employees coerced during the robbery, was arrested in November 2005. Prosecutors alleged he was the inside man. At his trial in 2008, however, the prosecution offered no evidence, and Ward was acquitted. His lawyer described the case as a “Kafka-esque farce.”
The Fallout
The robbery’s repercussions extended far beyond financial loss. It cast a shadow over the Northern Ireland peace process, straining relations between the Irish and British governments and Sinn Féin. Northern Bank, now Danske Bank, was forced to reissue its £10, £20, £50, and £100 notes, rendering the stolen uncirculated notes unusable.
Despite years of investigation and high-profile trials, the robbery remains unsolved, with no one held accountable for the actual theft. The Provisional IRA’s alleged involvement continues to be a contentious topic, and the stolen millions, particularly the untraceable used notes, are likely scattered across the globe.
A Mystery That Endures
The Northern Bank robbery is not just one of the largest heists in UK history; it’s a tale of meticulous planning, audacity, and the enduring mystery of its perpetrators. To this day, it remains a landmark case in the annals of true crime, a stark reminder of the vulnerabilities even in highly secure systems. The unanswered question persists: who truly masterminded the £26.5 million heist, and where is the money now?
