Who is Keith Cheeseman? The man convicted for the City Bonds Robbery
Heist: Robbing the Bank of EnglandThe 1990 City Bonds Robbery in London, England, is – to this day – one of the largest financial thefts in the history of the United Kingdom. The robbery was far from a lucky break for small-time thieves, though. It was the result of a huge, international criminal network of launderers and fraudsters.
Very few people were jailed for the crime, but one who did face jail time was Keith Cheeseman. Crime+Investigation will dive deeper into the City Bonds Robbery in our upcoming documentary Heist: Robbing the Bank of England. For now though, we’re going to focus on Keith Cheeseman and his role in the crime, as well as where he is now.
Heist: Robbing the Bank of England starts Monday, 3rd November on Crime+Investigation.
Who is Keith Cheesman?
Keith Cheeseman is from Luton, London, and had humble beginnings as the son of a shopkeeper. He had dreams of grandeur, leading him to do whatever it took – even turn to a life of crime – to live lavishly. Cheeseman had several occupations during his life, including football tycoon and the owner of a building firm. He also served in the Royal Artillery for six years.
The criminal life of Keith Cheeseman
Cheeseman’s criminal activities began as an attempt to fund the decadent lifestyle he yearned for. This started after Cheeseman purchased Dunstable Town Football Club in the 1970s. In order to maintain a high end lifestyle, he fraudulently took out loans in the names of the players from the club. He was able to obtain hundreds of thousands of pounds by doing so, but he was eventually caught for his crimes and charged.
This was just the beginning of Cheeseman’s descent into crime. In 1975, he was in trouble for extorting around £287,000. This didn’t stop him from continuing to offend, as in 1977, he went to prison for six years due to bogus loan applications. The money he gained through this was used to sign well known footballer George Best to play for Dunstable Town FC in an attempt to elevate the club's notoriety and fame.
After serving his time in Wormwood Scrubs, he was back in jail again by 1983 for more fraudulent and deceptive methods of obtaining money. When he was once again released, he became involved in what would later be known as the City Bonds Robbery.
Cheeseman and the City Bank Robbery
The City Bonds Robbery occurred in London in 1990. It involved the theft of around £292 million in the form of 301 bearer bonds. Cheeseman later claimed the amount was much more than this, but more on that later. The courier carrying the bonds was initially thought to have been mugged, but investigations revealed the theft to be an organised plan undertaken by various criminal networks.
Cheeseman was the UK contact for the heist and the launderer. His role was to receive the bonds once they had been taken and aid with the process of moving them into various international financial systems. Cheeseman had the right kind of connections for this role, including local associate Raymond Ketteridge and including Texan businessman Mark Osbourne.
Mark Osbourne’s death
Osbourne attempted to sell £10 million worth of the bonds to a member of the New York mafia. However, the buyer turned out to be an FBI agent. Osborne agreed to become an informant after his arrest on July 31st 1990, leading to Cheeseman’s involvement coming to light.
Not long after this – on August 16th, 1990 – Osbourne was found murdered. He had been assassinated, shot twice through the back of the head. His body was found in Houston, Texas, in the trunk of his car. Cheeseman fled the UK to hide in Tenerife after jumping bail, fearing that a hit had been put on him as well.
Cheeseman’s jail time
Cheeseman was caught and extradited to the United States. He was charged with conspiracy to launder around £392 million worth of stolen bonds, which included the £292 million from the City Bonds Robbery job. He was sentenced to six and a half years of jail time. Of all the figures involved in the plot, Cheeseman was one of the few to spend time behind bars.
Where is Cheeseman now?
Cheeseman is now living in Turkey, and he claims that the actual value of the bonds were around £135 million more than was reported. If this is the case, this would mean that those funds are still unaccounted for after all this time. Whether this is true or not, there is still no doubt that the City Bonds Robbery stands out as a notorious and multifaceted heist.
Be sure to watch Heist: Robbing the Bank of England to discover more about Keith Cheeseman and the shocking crime that was the City Bonds Robbery.
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