Greatest Bank Robbery In Chinese History Ever

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greatest chinese bank heist

When two lottery-obsessed bank employees created The largest and greatest bank robbery in Chinese history. We will gonna talk about Ren Xiaofeng and his partner ma and how they pulled out this heist.

1. The Journey Of Ren Xiaofeng

Ren Xiaofeng photo

Ren Xiaofeng was a lottery winner from the beginning. In a wealthy northern Hebei household, he was the youngest child. His generation of young men from rural areas moved to cities to work in factories and construction sites after China opened to the rest of the world in the 1980s. The family moved from their village in rural Hebei province to Daming before Ren was born because his father was a Communist Party official. For high school, he attended an excellent school in the ancient border city and then transferred to Handan. Ren’s father wasn’t rich, but he had enough money to pay bribes and get him a job at the city’s biggest and most prominent branch of the Agricultural Bank of China, one of China’s “big four” financial institutions.

Ren stands out because he has some of the fastest fingers in the country. At the time, most Chinese banks lacked sophisticated computerized bill counting equipment. Counting by hand was taught and then practiced. Some people poked their pointer fingers like sewing machine needles while flipping banknotes. One technique was to wave the money around like a hand fan.

2. Abilities And Family Of Ren

man counting money by hand

The teller could count 800 dollars in five minutes, double-check the count, then band and stamp the stack. Ren, an expert counter, could whizz through 2,000 dollars in the same amount of time. The Banks held inter-branch competitions regularly, and Ren won a local competition before placing second at a regional competition. His local bank promoted him to management for his accomplishments. Soon after, he proposed to the woman he met at work.

In 2004, Ren’s young wife gave birth to a boy and a girl labelled as “dragon-phoenix twins” in China (the dragon represents the boy, the phoenix represents the girl). When China’s one-child policy was still in effect in the early 2000s, having fraternal twins (odds: 1 in 43) was like winning the lottery. Ren’s parents often came to babysit. The twins lived in a modest apartment building.

3. How He Got Into Lottery

poker table

Ren suffered a terrible blow in 2006 when the Agricultural Bank of China cut its top ranks. Ren 33 was demoted from his position as manager to a lower-level position in the vault. According to his colleagues, Ren had always been lucky. Then why didn’t he try his luck at the lottery and gambling?

In 1949, the Communists banned gambling throughout the country. During that time, Ren’s only legal gambling options were casinos in Macau, horse racing in Hong Kong (both of which are expensive for him), and state-run lotteries. More than a third of lottery proceeds were donated to charitable causes such as senior care, public sports grounds, and the Red Cross. By 2006, the China Welfare Lottery and China Sports Lottery were bringing in $10.4 billion each.

4. China Under Pressure In Beijing Olympics 2008

China under Pressure for Beijing Olympics

Funds were desperately needed. The Beijing Summer Olympics were fast approaching, and the organizers were in dire need of funds. With a price tag of $45 billion, the games would be among the most expensive in history.

Ren purchased two Chinese Sports Lottery tickets (worth approximately 25 cents each). Defeated, he bought more. Once again, the balls bounced in the opposite direction.

Losses were painful since they contrasted with his otherwise fortunate life. Taking a look around China in 2006, his wonderful fortune – a gorgeous wife, dragon-phoenix twins, and a secure career – didn’t seem so fantastic.

5. What Force Him To Do this Bank Robbery

handan village photo

China’s GDP grew by double digits while Ren xiaofeng lived on a fixed income. Everyone else seemed to be a lot wealthier.

Ren had to feed two additional mouths as well as his elderly parents. He walked to dingy back-alley lottery shops after work. A barcode scanner chirped a mournful beep to notify his small paycheck when he cashed the rare winning ticket and the shopkeeper fished some spare yuan from a drawer. Ren could smell oily gutters and dirty public bathrooms as he walked home pressing a few soiled dollars between his fingers.

He knew he had to do something to get out of the dirty place so he taught to gamble because China’s gambling business was booming at the time. For that reason, he needed money to survive, so he decided to rob the bank where he used to work.  

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6. Robbery No.1

bank vault door

On October 10, 2006 in Handan China. It was getting dark. Ren is the vault manager of the Agricultural Bank of China and was on the verge of losing his job. He was terrified. The premises were patrolled by two security officers. However as vault manager he had to be sure. He walked over to the printer room and the conference room to double-check everything. There was no one else in the room. There are no signs of danger. He then walked inside the vault. The money was there.

Everything worked according to plan. He began counting the money. He quickly stuffed the cash into his duffel bag and escaped the vault.

But he still had to be careful. He wasn’t out of the bank yet. He cautiously made his way to his car but then suddenly flashlights appeared. They were the two security guards. They had spotted him. They glanced down at his duffel bag and asked if he had the money. You see it was smart to get the help of the two security guards as it made him feel safer.

He put the cash bag in the vehicle and made no effort to flee since his shift wasn’t done yet. He still had approximately an hour remaining on the schedule as vault manager. He had 200,000 yuan in cash in his hands.

It wasn’t a huge amount of money. This was about $26,000 in US currency at the time. But his mission didn’t stop there. He went down the street later that day and bought many lottery tickets from a seller.

He did the same thing all over the city across Handan with several vendors purchasing in quantity as was his goal. He was buying lottery tickets with the stolen money in the hopes of obtaining a big enough reward. Large enough to be able to repay the lost money before they were discovered.

He was supposed to have some money left over. That was his plan from the beginning. It is, if you haven’t already realized a foolish idea. But why? It doesn’t make sense. It is expected that lottery tickets will be more expensive than they were in the past. It is very unlikely that you will win back more than you invested.

If it were that easy, everyone would do it. However, Ren wasn’t aware of this. Despite the odds, Ren won.

The strategy worked. A large portion of the 200,000 was returned to the vault while the rest was kept. As if it were a snap of a finger, everything went smoothly, quickly, and effectively. This was a successful robbery.

7. The Involvement OF 2nd Partner

man carrying arms for robbery

Two-five months after his first success in March 2007, he decided it was time for another round. However, his ambition was much stronger this time. The Agricultural Bank of China was one of China’s four major banks, and its vaults were full. Having so much more money would make it impossible for him to complete the project alone. The security guards were in his back pocket, but they were serving as lookouts. As long as the funds were returned, he wanted someone at the bank to help him move the money. He also wanted someone to keep his activities hidden from the rest of the employees. The missing 200,000 had previously been undetected by bank employees.

However, Ren wants to wipe away half the money in the vault. There was only one person on Ren’s mind at the moment, and that was Ma, the other vault manager. Ma would be the one to discover the missing money. Thus, he had no choice but to bring him along. It was definitely a gamble. Now it was time to rob.

8. Robbery No.2

stacks of cash in front vault door

In March and April, Ren and Ma conspired to steal nearly two tonnes of cash, the equivalent of 33,000,000 yuan or $4.3 million USD. Some staff members began to notice the inconsistencies by this point, despite Ma’s presence.

Soon, the police were called. It was getting worse. As vault managers, Ren and Ma, on the other hand, were able to use their influence to create short explanations that everyone could understand. Their claim was that this kind of mistake occurs sometimes and that it is not a significant problem. The money would appear sooner or later. Obviously, they were attempting to buy time since they hadn’t scratched all of their lottery tickets yet. And there were a lot of them.

There are heaps and mountains of 33,000,000 yuan that would put MrBeast the YouTuber to shame. They purchased and scratched a large number of lottery tickets over the course of several weeks. Surprisingly, the lottery did what it was intended to do this time. They had been robbed of everything. As the cops became more suspicious, it was time for no.3.

9. Robbery no.3

bundles of cash in bank

For the third theft, they took another 18,000,000 yuan (USD 2.3 million) and bought even more tickets. Due to the severe time crunch, they couldn’t spread out their activities across many weeks as they had done before.

All of their tickets were purchased in one day. They scratched furiously until their fingers bled. Imagine you were wondering how so many tickets could be purchased without raising suspicion. It was because cash was still king at the time, even if China was moving to electronics.

A total of 51,000,000 yuan or $6.7 million in US dollars was recovered, but only 98,000 yuan or $12,700. Clearly, they were doomed.

10. The Result OF 3 Robberies On Agriculture Bank Of China

gathering of people infront of agriculture bank of china

A record number of lottery tickets were sold in the city of Handan. The bank was forced to realize the legitimacy of the stolen money by the vault managers on April 16. The cops set out right away to arrest the pair for what was later revealed to be China’s biggest bank robbery, but they had already left the city.

After purchasing fake IDs just days before leaving, Ren and Ma were only concerned with saving themselves.

Officers smashed through the steel door when bank management eventually contacted the police. Upon entering the bank, the authorities discovered that their worst fears had come true: they’d been robbed. A plastic bag stuffed with expired lottery tickets was found inside the bank. Ren’s departure remains a mystery – perhaps a taunt, or a lack of attention, or just a plea for forgiveness: Hey, at least the state-owned bank gave the lottery money.

11. The Hunting Of Ren And Maa

man holding guns

Radio stations covered the case in broad strokes by noon. Local television broadcast the news across the region late at night. National journalists attended the event.

During the heist, Ren and Ma stole 51 million yuan worth $6.6 million from the bank. Since then, they have become China’s most notorious bank robbers. Their whereabouts are unknown. Across all of China, newspapers ran articles speculating how Ren and Ma did it. Reporters claimed to have pulled out 3,300 pounds of cash, but an expert revised that number higher because dirt on the notes would have added another 600 pounds. Thousands of reporters converged on Ren and Ma’s homes. Locals said Ma was a reliable person, but their first reaction was doubt.

Massive searches were conducted across the country. China’s public security ministry put the two on its most-wanted list. A bounty was placed on their heads. Ma fled to Beijing, China’s capital. Ren fled to Jiangsu province. Their faces suddenly appeared all over the press, which made Ma’s life a little more difficult in such a busy city as Beijing.

12. Did They Get Caught?

ren got caught by 2 police man

Two days later, he was caught and arrested. Then there was Ren, the mastermind who had traveled southwest by taxi to Lianyungang, a seaside city. 650 kilometers in a taxi wasn’t the right idea for China’s most wanted man, so he swapped the cab for a black Honda with a sunroof. Following a purchase from a suspicious car dealer, he knew he needed to find a place to hide.

For now, however, it was time to relax and unwind until things calmed down. It was already over since the cops knew where he was. Unaware that appearing messy and unshaven for days and paying for everything in cash was considered suspicious, he carried a suitcase full of cash everywhere. Three individuals alerted the authorities, not just one. The shady auto salesman, the taxi driver, and the landlord.

13. Result And Effect On Agriculture Bank Of China

two employees in agriculture bank of china

In fact, it seemed that the shady auto salesman had met someone even shadier than himself. They all helped with the capture, so they all shared the 200,000 yuan bounty, which was probably a fitting end for Ren. All began with 200,000 and has now ended with 200,000. Now that everyone has been captured, the search is complete.

The two security guards were prosecuted for misusing public funds. The two could be jailed for five years. Ren and Ma were accused of theft, and the prosecution sought the harshest penalty possible. Ren specifically apologized and offered suggestions on how to prevent future thefts.

It was too late, however. Death was their punishment. They were executed one year later. However, the Agricultural Bank of China was humiliated. In response, they fired five bank employees, including the Vice President of the provincial branch, for enabling three heists.

On March 31, 2008, Ren and Ma were executed. The Agricultural Bank of China prohibited its employees from discussing the matter. Court records were sealed. Ma and Ren became legends. Now their names evoke laughter, curiosity, and even a hint of pride in Handan. Locals who took on the guy and triumphed, though only for a short time.

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