LONDON, April 8 (UPI) -- Up 70 deposit boxes were raided at London's Hatton Garden Safe Deposit over Easter weekend in what could be a heist worth up to $300 million.
Thieves used heavy cutting equipment and rappelling gear to break into the vault of the 60-year-old safe deposit company, possibly taking up to four days to go through the depository used mostly by jewelers and gold dealers.
The amount of money and goods taken are never fully revealed and there's a chance that not everyone would declare their stolen belongings, according to Roy Ramm, former Flying Squad chief, a branch of London's Metropolitan Police.
"I would not be surprised, given where this one is in Hatton Garden, if £200 million [$300 million] is around about the amount stolen," Ramm told BBC News.
Police announced the Hatton Garden heist on Wednesday.
"Officers anticipate the process to take approximately two days," a statement said. "At this stage it is believed that approximately 60-70 safe deposit boxes were opened during the burglary. Officers are working closely with Hatton Garden Safe Deposit Ltd to establish the identities of those affected. Police will be contacting victims directly as and when they are identified."
The Hatton Garden Safe Deposit Ltd. was founded in 1954 to offer a "secure and cost-effective solution to store and protect important and irreplaceable personal belongings," according to the company's website.
