October 10, 2024 • 9 mins
The Loomis Fargo heist, one of the largest cash thefts in U.S. history, took place on October 4, 1997, when over $17 million was stolen from a Loomis Fargo vault in Charlotte, North Carolina. The heist was orchestrated by Loomis Fargo employee David Ghantt, who collaborated with a small group of accomplices, including Kelly Campbell, a former co-worker, and Steve Chambers, the mastermind behind the operation. Ghantt loaded the cash into a van and fled to Mexico, but the group’s lavish spending and amateur mistakes quickly attracted the attention of authorities. After several months, the FBI apprehended the culprits, and much of the stolen money was recovered. The heist inspired several films and books, including the 2016 comedy Masterminds
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
All right, ready to dive into a story that proves truth is stranger than fiction?
(00:04):
We're talking about the 1997 Loomis Fargo heist.
Oh, yeah, this one's a classic, a real head scratcher.
We're breaking down this wild ride using excerpts from the real stories
YouTube video, The Unperfect Crime.
So we're talking millions gone, a trail of purchases that'll make you raise
an eyebrow or two and more twists and turns than your average heist movie.
(00:25):
What gets me about this case, you've got this incredible audacity, right?
Like these guys, they aimed for the stars, but then they paired it with this
almost charming level of, shall we say, oversight oversight?
Huh? That's one way to put it.
So set the stage for us.
What exactly went down in Charlotte, North Carolina back in 97?
Picture this 1997 Loomis Fargo warehouse.
(00:47):
Seemingly normal day until boom.
Seventeen point three million dollars just vanishes.
Poof. Gone.
Naturally, the FBI swoops in expecting some Ocean's 11 level scheme.
Right. You figure it's got to be professionals, right?
Exactly. But then they zero in on the most likely suspect, David Gant, a vault supervisor.
Hold on. The vault supervisor.
Isn't that like the one guy who should be on top of security?
(01:09):
You'd think, right?
And this is where the charming incompetence comes in.
David, he gets caught red handed on the one security tape he forgot to deal with.
Are you kidding me? Out of all the cameras, he misses one.
That's almost unbelievable.
Was he working alone? What's the story there?
Well, that's the million dollar question, quite literally.
See, while David's busy forgetting about cameras, the FBI, they stumble onto another clue.
(01:31):
It's a weird one. There's zero sign of forced entry.
So someone on the inside had to be involved then, right?
Makes sense. But if you're in on the plan, why not make off with all of it?
And that's the most baffling part.
They find a cool three point three million dollars just sitting in the getaway van.
Not exactly the hallmark of criminal mastermind.
(01:51):
It's like they plan for the heist but forgot to plan for, you know, the part where they actually keep the money.
Exactly. And that's what makes this case so fascinating.
It's this strange brew of like meticulous planning on one hand and then just complete disregard for common sense on the other.
It just screams that there's a whole lot more to this story than meets the eye.
All right. So we've got a million dollar question, literally, and a trail of missing millions.
(02:15):
Where did the feds even begin to untangle this?
Well, this is where things take a turn and not for the subtle.
Forget meticulously laundering money.
These guys, they practically painted the town red with stolen cash.
Oh, this is the part I love. So we're talking private jets, diamond encrusted everything.
Not exactly. Well, there was a mansion, actually multiple mansions.
(02:38):
Remember Steve Chambers, that small time crook with the supposed mob connections?
Right. Right. The supposed mastermind.
So he went full on Scarface with the loot.
Let's just say investing wasn't exactly his forte.
See, Steve and his wife, Michelle, they developed this, shall we say, enthusiasm for the finer things.
OK. We're talking trading up from a trailer to a sprawling mansion.
(02:59):
And to really tie it all together, they bought a furniture store.
A furniture store. I mean, I guess everyone's got their guilty pleasures, but that's a new one.
Oh, and they also treated themselves to a BMW roadster, you know, because why not?
Subtlety wasn't exactly in the cards, huh?
Not at all. And it wasn't just them.
The Chambers, they spread the wealth around, lavish gifts, cash handouts, you name it.
(03:21):
They did it. I'm picturing one of those ridiculous montages from a bad 80s movie right now.
You're not far off. There's even a story about Michelle walking into a bank,
briefcase practically exploding with cash, practically begging someone to notice.
You almost have to admire the confidence.
The audacity is definitely there.
But see, this is where the psychology gets really interesting.
(03:42):
It wasn't just plain old greed driving them. It was this need to fit in,
to legitimize their, well, completely illegitimate gains.
So flaunting it all becomes a way to convince themselves and everyone else that they belong in that world.
Exactly. And as you might expect, that kind of thinking rarely leads to a happy ending.
No kidding. And the spending spree doesn't stop there, right?
(04:05):
What about Eric Payne, the guy who worked across from where they found the Loomis fan?
Get in on the action. Oh, absolutely. Eric, he decided to upgrade his life too.
Traded in his old ride for his shiny new Harley and a Chevy Tahoe, you know, just for good measure.
Of course. Gotta have options. But here's the real kicker.
He also used the money to pay for cosmetic surgery for his sisters.
(04:26):
Now that's brotherly love. Although I gotta ask, of all the things to spend millions on dot cosmetic surgery, really?
It's a fascinating choice, isn't it? Yeah.
It speaks to this desire for a fresh start, this idea that they could literally buy themselves a new life, a new identity.
But more often than not, that kind of transformation, it's fleeting, especially when it's built on stolen cash.
(04:47):
All right. So we've got the Chambers crew back in Charlotte living the high life.
But what about David, you know, the guy who actually stole the money? Where'd he end up?
Well, that's where this whole thing takes, you guessed it. Another crazy turn.
Remember that fake passport Steve got for David?
Turns out that wasn't just for fun. It was a one-way ticket to Mexico.
Mexico, huh? I guess when you steal millions, a change of scenery is not a bad idea.
(05:12):
So was he living it up down there, sipping margaritas on a boot somewhere?
Not quite. Remember how we were talking about that need for acceptance?
Well, turns out even with millions of dollars, fitting in isn't as easy as you'd think.
Instead of a luxury villa, picture this. David's holed up in a cheap motel room, living off ramen noodles and a cheap
comic book. From vault supervisor to international fugitives surviving on ramen. Talk about a fall from Grace.
(05:40):
But hey, at least he had those comic books, right? Right. And get this. The only reason anyone even
recognized him wasn't because he was a multi-million dollar thief. They thought he was Boris Becker,
the tennis star. You've got to be kidding me. They mistook him for Boris Becker. It's almost too perfect,
right? Life imitating art or something like that. It's pretty wild. But while we're over here laughing,
(06:01):
it's important to remember for David, this whole thing, it was a pretty isolating, stressful
experience. He's living with this constant fear, this knowledge that he'd been used. It's not exactly
a dream come true, even with all that cash. That's a good point. So what happened next? Did he ever
try to get in touch with anyone back home? He did. And this is where things take a darker turn.
(06:23):
Remember Kelly Campbell, David's old co-worker? Right, the one who supposedly helped him cook up
this crazy plan. Well, it turns out she wasn't just involved. She was the one pulling the strings all
along. She's the one who convinced David to go through with it in the first place. Wait, seriously,
I thought Steve was the mastermind. Steve might have been calling some of the shots from afar,
(06:45):
but it was Kelly whispering in David's ear, promising him the moon and the stars if he just
went along with it. She knew exactly what buttons to push. Wow, talk about a classic case of
manipulation. But why go through all that trouble? Why not just grab the money and run herself?
Now that is the million dollar question, isn't it? Seems like Kelly, she was playing a different game,
(07:05):
one where David was just a pawn. She knew involving someone in his position was the key to the whole
thing, and she played him like a fiddle. So while David's sweating it out in Mexico, Kelly's back
in Charlotte counting her millions. Actually, not quite. See, David, desperate for more cash,
reaches out to Kelly, totally oblivious to the fact that she's in on a plan to silence him,
(07:27):
for good. Luckily for David, the FBI had been listening in on his calls the whole time,
and they swoop in and arrest him before things get any worse. Man, that is cold. Talk about a
close call. So David finally caught. Did the FBI manage to round up the rest of the crew? Oh,
you bet they did. With David in custody, the whole house of cards came tumbling down. Kelly, Steve,
(07:47):
Michelle, the whole gang, they all got caught with millions stashed away in safe deposit boxes
under mattresses, even buried in backyards. Talk about a reality check. And what about all their
extravagant purchases? The mansion, the furniture store, the BMW? Gone, I'm guessing. You guessed
right. The government seized it all, auctioned it off to try and recoup some of the losses.
(08:09):
And yep, even that velvet Elvis painting Steve was so fond of ended up on the auction block.
You're kidding. That velvet Elvis. What I wouldn't give to get my hands on a piece of history like
that. So what was the final verdict? Did they all end up behind bars? They did. The Loomis Fargo
heist, as ridiculous as it seems, it was still a serious crime. David, Steve, Kelly, and everyone
(08:33):
else involved, they all got hit with prison sentences for their roles in the whole debacle.
Well, I guess you could say they got what was coming to them in the end. They tried to play the
system and got played right back. That's one way to put it. But here's the kicker. Even after doing
time losing everything, David Gant, he actually said that looking back, he'd do it all again.
He would. After all that, the stress, the fear, the betrayal, why on earth would he say that?
(08:56):
It's a fascinating question, isn't it? And I think this whole crazy story really highlights
how seductive that idea of easy money can be. It's a powerful fantasy. But as we've seen,
it can be a dangerous delusion. It makes you think twice about those get rich quick schemes, right?
You might end up with more problems than you bargained for. Exactly. The Loomis Fargo heist,
(09:17):
it's a cautionary tale, reminding us that sometimes the most tempting paths are also the most dangerous.
And sometimes the greatest treasures, they aren't found in some vault filled with cash.
They're the lessons we learn along the way, even from our mistakes. Couldn't have said it better
myself. Well, that wraps up our deep dive into one of the most hilariously bad heists in history.
(09:38):
What surprised you the most about this wild ride? Let us know on social media. We'd love to hear your thoughts.
All right, ready to dive into a story that proves truth is stranger than fiction?
(00:04):
We're talking about the 1997 Loomis Fargo heist.
Oh, yeah, this one's a classic, a real head scratcher.
We're breaking down this wild ride using excerpts from the real stories
YouTube video, The Unperfect Crime.
So we're talking millions gone, a trail of purchases that'll make you raise
an eyebrow or two and more twists and turns than your average heist movie.
(00:25):
What gets me about this case, you've got this incredible audacity, right?
Like these guys, they aimed for the stars, but then they paired it with this
almost charming level of, shall we say, oversight oversight?
Huh? That's one way to put it.
So set the stage for us.
What exactly went down in Charlotte, North Carolina back in 97?
Picture this 1997 Loomis Fargo warehouse.
(00:47):
Seemingly normal day until boom.
Seventeen point three million dollars just vanishes.
Poof. Gone.
Naturally, the FBI swoops in expecting some Ocean's 11 level scheme.
Right. You figure it's got to be professionals, right?
Exactly. But then they zero in on the most likely suspect, David Gant, a vault supervisor.
Hold on. The vault supervisor.
Isn't that like the one guy who should be on top of security?
(01:09):
You'd think, right?
And this is where the charming incompetence comes in.
David, he gets caught red handed on the one security tape he forgot to deal with.
Are you kidding me? Out of all the cameras, he misses one.
That's almost unbelievable.
Was he working alone? What's the story there?
Well, that's the million dollar question, quite literally.
See, while David's busy forgetting about cameras, the FBI, they stumble onto another clue.
(01:31):
It's a weird one. There's zero sign of forced entry.
So someone on the inside had to be involved then, right?
Makes sense. But if you're in on the plan, why not make off with all of it?
And that's the most baffling part.
They find a cool three point three million dollars just sitting in the getaway van.
Not exactly the hallmark of criminal mastermind.
(01:51):
It's like they plan for the heist but forgot to plan for, you know, the part where they actually keep the money.
Exactly. And that's what makes this case so fascinating.
It's this strange brew of like meticulous planning on one hand and then just complete disregard for common sense on the other.
It just screams that there's a whole lot more to this story than meets the eye.
All right. So we've got a million dollar question, literally, and a trail of missing millions.
(02:15):
Where did the feds even begin to untangle this?
Well, this is where things take a turn and not for the subtle.
Forget meticulously laundering money.
These guys, they practically painted the town red with stolen cash.
Oh, this is the part I love. So we're talking private jets, diamond encrusted everything.
Not exactly. Well, there was a mansion, actually multiple mansions.
(02:38):
Remember Steve Chambers, that small time crook with the supposed mob connections?
Right. Right. The supposed mastermind.
So he went full on Scarface with the loot.
Let's just say investing wasn't exactly his forte.
See, Steve and his wife, Michelle, they developed this, shall we say, enthusiasm for the finer things.
OK. We're talking trading up from a trailer to a sprawling mansion.
(02:59):
And to really tie it all together, they bought a furniture store.
A furniture store. I mean, I guess everyone's got their guilty pleasures, but that's a new one.
Oh, and they also treated themselves to a BMW roadster, you know, because why not?
Subtlety wasn't exactly in the cards, huh?
Not at all. And it wasn't just them.
The Chambers, they spread the wealth around, lavish gifts, cash handouts, you name it.
(03:21):
They did it. I'm picturing one of those ridiculous montages from a bad 80s movie right now.
You're not far off. There's even a story about Michelle walking into a bank,
briefcase practically exploding with cash, practically begging someone to notice.
You almost have to admire the confidence.
The audacity is definitely there.
But see, this is where the psychology gets really interesting.
(03:42):
It wasn't just plain old greed driving them. It was this need to fit in,
to legitimize their, well, completely illegitimate gains.
So flaunting it all becomes a way to convince themselves and everyone else that they belong in that world.
Exactly. And as you might expect, that kind of thinking rarely leads to a happy ending.
No kidding. And the spending spree doesn't stop there, right?
(04:05):
What about Eric Payne, the guy who worked across from where they found the Loomis fan?
Get in on the action. Oh, absolutely. Eric, he decided to upgrade his life too.
Traded in his old ride for his shiny new Harley and a Chevy Tahoe, you know, just for good measure.
Of course. Gotta have options. But here's the real kicker.
He also used the money to pay for cosmetic surgery for his sisters.
(04:26):
Now that's brotherly love. Although I gotta ask, of all the things to spend millions on dot cosmetic surgery, really?
It's a fascinating choice, isn't it? Yeah.
It speaks to this desire for a fresh start, this idea that they could literally buy themselves a new life, a new identity.
But more often than not, that kind of transformation, it's fleeting, especially when it's built on stolen cash.
(04:47):
All right. So we've got the Chambers crew back in Charlotte living the high life.
But what about David, you know, the guy who actually stole the money? Where'd he end up?
Well, that's where this whole thing takes, you guessed it. Another crazy turn.
Remember that fake passport Steve got for David?
Turns out that wasn't just for fun. It was a one-way ticket to Mexico.
Mexico, huh? I guess when you steal millions, a change of scenery is not a bad idea.
(05:12):
So was he living it up down there, sipping margaritas on a boot somewhere?
Not quite. Remember how we were talking about that need for acceptance?
Well, turns out even with millions of dollars, fitting in isn't as easy as you'd think.
Instead of a luxury villa, picture this. David's holed up in a cheap motel room, living off ramen noodles and a cheap
comic book. From vault supervisor to international fugitives surviving on ramen. Talk about a fall from Grace.
(05:40):
But hey, at least he had those comic books, right? Right. And get this. The only reason anyone even
recognized him wasn't because he was a multi-million dollar thief. They thought he was Boris Becker,
the tennis star. You've got to be kidding me. They mistook him for Boris Becker. It's almost too perfect,
right? Life imitating art or something like that. It's pretty wild. But while we're over here laughing,
(06:01):
it's important to remember for David, this whole thing, it was a pretty isolating, stressful
experience. He's living with this constant fear, this knowledge that he'd been used. It's not exactly
a dream come true, even with all that cash. That's a good point. So what happened next? Did he ever
try to get in touch with anyone back home? He did. And this is where things take a darker turn.
(06:23):
Remember Kelly Campbell, David's old co-worker? Right, the one who supposedly helped him cook up
this crazy plan. Well, it turns out she wasn't just involved. She was the one pulling the strings all
along. She's the one who convinced David to go through with it in the first place. Wait, seriously,
I thought Steve was the mastermind. Steve might have been calling some of the shots from afar,
(06:45):
but it was Kelly whispering in David's ear, promising him the moon and the stars if he just
went along with it. She knew exactly what buttons to push. Wow, talk about a classic case of
manipulation. But why go through all that trouble? Why not just grab the money and run herself?
Now that is the million dollar question, isn't it? Seems like Kelly, she was playing a different game,
(07:05):
one where David was just a pawn. She knew involving someone in his position was the key to the whole
thing, and she played him like a fiddle. So while David's sweating it out in Mexico, Kelly's back
in Charlotte counting her millions. Actually, not quite. See, David, desperate for more cash,
reaches out to Kelly, totally oblivious to the fact that she's in on a plan to silence him,
(07:27):
for good. Luckily for David, the FBI had been listening in on his calls the whole time,
and they swoop in and arrest him before things get any worse. Man, that is cold. Talk about a
close call. So David finally caught. Did the FBI manage to round up the rest of the crew? Oh,
you bet they did. With David in custody, the whole house of cards came tumbling down. Kelly, Steve,
(07:47):
Michelle, the whole gang, they all got caught with millions stashed away in safe deposit boxes
under mattresses, even buried in backyards. Talk about a reality check. And what about all their
extravagant purchases? The mansion, the furniture store, the BMW? Gone, I'm guessing. You guessed
right. The government seized it all, auctioned it off to try and recoup some of the losses.
(08:09):
And yep, even that velvet Elvis painting Steve was so fond of ended up on the auction block.
You're kidding. That velvet Elvis. What I wouldn't give to get my hands on a piece of history like
that. So what was the final verdict? Did they all end up behind bars? They did. The Loomis Fargo
heist, as ridiculous as it seems, it was still a serious crime. David, Steve, Kelly, and everyone
(08:33):
else involved, they all got hit with prison sentences for their roles in the whole debacle.
Well, I guess you could say they got what was coming to them in the end. They tried to play the
system and got played right back. That's one way to put it. But here's the kicker. Even after doing
time losing everything, David Gant, he actually said that looking back, he'd do it all again.
He would. After all that, the stress, the fear, the betrayal, why on earth would he say that?
(08:56):
It's a fascinating question, isn't it? And I think this whole crazy story really highlights
how seductive that idea of easy money can be. It's a powerful fantasy. But as we've seen,
it can be a dangerous delusion. It makes you think twice about those get rich quick schemes, right?
You might end up with more problems than you bargained for. Exactly. The Loomis Fargo heist,
(09:17):
it's a cautionary tale, reminding us that sometimes the most tempting paths are also the most dangerous.
And sometimes the greatest treasures, they aren't found in some vault filled with cash.
They're the lessons we learn along the way, even from our mistakes. Couldn't have said it better
myself. Well, that wraps up our deep dive into one of the most hilariously bad heists in history.
(09:38):
What surprised you the most about this wild ride? Let us know on social media. We'd love to hear your thoughts.
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