Armed bandits early yesterday escaped with an undisclosed amount of cash from the Brass Aluminium and Cast Iron Foundry (BACIF) after subduing guards and cutting their way into a vault.

The bandits spent several hours in the Lot 9 -14 business area West Ruimveldt location and fled on foot according to reports. Police officials said that based on investigations one gun was used in the incident and the men escaped with “petty cash”. Up to press time last night none of the perpetrators had been caught.

Speaking to Stabroek News yesterday the company’s general manger Peter Pompey said that sometime after 1 am, three men jumped over the northern section of the front fence and later subdued three guards who were at different locations in the compound.

The guards were then tied up, he said, and locked in a toilet. Pompey told this newspaper that he is not sure how many guns were involved since he was just told that there were three armed men. From reports, he added two of the men protected their identities.

He said that after locking up the guards, the men proceed into the Number Three building which houses the welding areas and removed an acetylene oxygen cutting set.

From, there Stabroek News was told that the men went to the main building located towards the other end of the compound where they gained entry into the main office entrance. There, Pompey said, the cutting set was used to open the vault and an undisclosed amount of cash was removed. Important documents were damaged while the vault was being cut open.
After the men fled the area, the guards managed to free themselves and according to the general manager, they immediately contacted senior officials, who informed the police of what had transpired.

Pompey said that the response was prompt as when they arrived the police were already on the scene conducting investigations.

He added in the 30-year existence of the business, there was never such an incident. He recalled that about 18 months ago, a clerk was relieved of the payroll as he was about to walk through the gate.

Following that incident security was intensified.