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A bungling bandit Kark Kachami missed $4.6 million in booty after failing to take hint

A bungling bandit may yet escape jail with hundreds of thousands of dollars in ill-gotten booty after missing out on millions in a failed gold heist. 

Melbourne property tycoon Karl Kachami, 48, will likely spend just two years in jail for his role in the sham robbery, which saw him escape briefly with a little over $3.2 million in gold, jewels and cash. 

That figure might well have been close to $8 million if he’d heeded the signals of his partner in crime Daniel Ede, who was the manager of the  Melbourne Gold Company Kachami robbed. 

Karl Kachami, 48, has been sentenced to jail for at least two years. More than $300,000 from the heist remains unaccounted for  

Ede, 37, pleaded guilty in Melbourne Magistrates Court in October to the theft of the gold bullion, cash and jewellery, as well as entering his workplace as a trespasser with the intent to steal (pictured)

Ede, 37, pleaded guilty in Melbourne Magistrates Court in October to the theft of the gold bullion, cash and jewellery, as well as entering his workplace as a trespasser with the intent to steal (pictured)

Almost $350,000 in cash remains missing. 

Ede had pretended to be the victim, but was instead in cahoots with his friend and robber.

With an unloaded gun pointed at him, Ede could be seen signalling his mate to check inside a safe by his feet. 

The safe had $4 million worth of gold in it and another $400,000 in cash. 

Kachami failed to take the hint. 

Ede had stupidly believed he had disabled the CCTV cameras under false duress. 

But a back-up power supply meant police could later see the moronic manager signalling his buddy about which safes to target. 

The woeful performance was one of a litany of mistakes made by the near useless crooks. 

The pair had staged the robbery in April during the height of Melbourne’s COVID-19 lockdown, which had hit Kachami’s rental property empire. 

The County Court of Victoria heard Kachami was well-off despite the setback and could have easily made-up for the shortfall in profits in due time. 

Instead, the dimwitted robber embraced his mate’s get rich quick scheme with comical gusto. 

Karl Kachami, 48, will spend two years behind bars for his role in a doomed gold heist

Karl Kachami, 48, will spend two years behind bars for his role in a doomed gold heist

They staged the $3.9million robbery from the Melbourne Gold Company in April and ditched the loot at a Gippsland farm at a place called Dollar (Melbourne Gold Company premises pictured)

They staged the $3.9million robbery from the Melbourne Gold Company in April and ditched the loot at a Gippsland farm at a place called Dollar (Melbourne Gold Company premises pictured)

Gold bullion worth millions was left behind by the bungling crook despite the best efforts of his co-accused

Gold bullion worth millions was left behind by the bungling crook despite the best efforts of his co-accused  

Detectives didn’t take long to put all of the pieces together. 

Kachami was caught on camera doing all of the preparation for the doomed heist. 

Cops saw him buying items at hardware shops and found he had a mate hire the getaway car under her own name and address. 

Kachami telephoned Ede directly before entering the business and was later caught red handed with pieces of evidence. 

Detectives nabbed him the very same day of the heist.  

When police arrived at his mum’s Gippsland farm in the rural area of Dollar, Kachami had been in the process of burning items used in the robbery. 

He even had sections of the stolen number plates used on the rental vehicle still in his pockets. 

Kachami attempted to play a hard game with police, but he soon sung like a canary. 

He pleaded guilty to one charge each of aggravated burglary, theft and possessing a hand gun. 

The stay-at-home father of three could have been jailed for up to 25 years over the heist, which is believed to be the third most lucrative in Victorian history. 

Instead, Judge Howard Mason sentenced him to just four years in jail, with a non-parole period of two. 

His mate had pleaded guilty in October to the theft of the gold bullion, cash and jewellery, as well as entering his workplace as a trespasser with the intent to steal.

Three other charges, one of perjury and two firearm offences, were struck out.   

He is yet to be sentenced.  

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