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Magistrate Ross Maxted has granted bail to Karl Kachami, a defendant in the $3.9 million Melbourne Gold Company robbery – thought to be the third-largest in Victorian history.
Magistrate Ross Maxted has granted bail to Karl Kachami, a defendant in the $3.9 million Melbourne Gold Company robbery – thought to be the third-largest in Victorian history.

Defendant in Melbourne Gold Company robbery granted bail

Karl Kachami, one of the defendants in the $3.9 million robbery of Collins Street gold dealer Melbourne Gold Company (MGC), has been granted bail, while fellow defendant Daniel Ede remains in custody.

At a bail hearing on 15 June, Kachami’s legal representative, Philip Dunn QC, described the 27 April heist as a “comedy of errors” and said that his client made a “very silly decision” due to the financial and psychological pressure of the COVID-19 pandemic.

"The planning appeared to be sophisticated, including the secretion of cash and the bullion in a very remote location which was only known to both of them"
Ross Maxted, Magistrate

He also asserted that Kachami, 48, had fully cooperated with police by leading them to a rural property in Gippsland, where a significant portion of the stolen material was buried.

In addition, Melbourne Magistrates’ Court heard that Kachami returned more than $340,000 which had been stashed at his investment property in the Melbourne suburb of Fitzroy.

Police allege Kachami planned the robbery with Ede, 37, who was an employee of MGC. During the course of the heist, Kachami appeared to hold Ede at gunpoint as he emptied the business’ safes of gold bullion, jewellery, and cash.

However, CCTV footage revealed that the weapon was unloaded, and police said that Ede appeared to be guiding Kachami using his eyes and hand movements. Police also alleged that Ede was seen in Gippsland in the days following the robbery.

Dunn argued that Kachami should be released in order to undergo treatment for diabetes and to care for his three young children.

While agreeing to release Kachami, magistrate Ross Maxted rejected the “comedy of errors” characterisation, with The Age quoting him as saying, “The planning appeared to be sophisticated, including the secretion of cash and the bullion in a very remote location which was only known to both of them, but which could only be accessed on locked private property.”

Maxted reportedly said that Kachami was “highly intelligent” and “a man prepared to take considerable risks and involve, potentially, others in them.”

Kachami has been ordered to surrender his passport, remain in Victoria, and contact police daily. His family provided a $550,000 surety. 

Meanwhile, Maxted denied bail to Ede on the grounds that he may seek to recover more than $330,000 in stolen cash that remains missing.

Ede was arrested on 12 May, but has consistently denied his involvement in the robbery. In addition to theft and firearms offences, he has been charged with perjury relating to statements he gave to police in the aftermath of the heist.

The case is scheduled to proceed in July.

 

More reading:
Bail hearings held for defendants in Melbourne Gold Company robbery
Second man charged in $3.9 million Melbourne Gold Company robbery
Record-breaking armed robbery at gold dealer; colourful history revealed
 




Peter W Beck
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Friday, 10 July, 2020 08:23pm
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