AP NEWS
Related topics

Loomis Fargo Heist Suspect Charged

September 11, 1998

CHARLOTTE, N.C. (AP) _ A former Loomis Fargo & Co. employee accused of masterminding a $17 million heist pleaded guilty Friday to bank larceny and money laundering.

``I regret that I got entangled in circumstances that led to pain to my wife and family,″ said David Scott Ghantt, 28.

The charges carry a combined total of 30 years in prison and $75,000 in fines. No sentencing date was set.

The money was stolen Oct. 4 from a vault operated by the armored car company. Prosecutors said a vault videotape shows Ghantt loading the money into a truck. He was arrested March 1 near the Mexican resort of Cozumel.

The theft was one of the biggest heists of its kind in U.S. history. More than $2 million is still unaccounted for. Ghantt’s lawyer said he knows nothing about the missing money.

``We hope it will be recovered, but as time goes by it becomes harder,″ said federal prosecutor David Keesler.

Seventeen of the 20 defendants in the case now have either entered guilty pleas or agreed to do so. None have been sentenced.

AP RADIO
Update hourly