I recently stumbled upon the crime drama film ‘Heist 88,’ directed by Menhaj Huda, and I must say, it piqued my curiosity in a way that I didn’t quite expect. At first glance, it might seem like your run-of-the-mill heist flick, but the film’s basis in a real-life event adds an intriguing layer of authenticity to the story, despite the outlandish concept of a non-violent, phone call-driven bank robbery.
The movie revolves around a mastermind con artist named Jeremy Horne, who assembles a group of young recruits for the ultimate challenge: pulling off the largest bank heist of the century, targeting the First Bank of Chicago and aiming for a cool $80 million. The simplicity and elegance of Jeremy’s plan are captivating, but, as expected, complications arise.
Now, let’s dive into the real story that inspired ‘Heist 88.’ The film draws heavily from a true event that took place in Chicago in 1988, and while it maintains a certain level of separation from the actual people and details involved, much of the framework remains faithful to reality.
In 1988, Chicago witnessed one of the most audacious and daring embezzlement attempts, orchestrated by ringleader Armand Moore and his accomplices. On May 13, 1988, Moore executed a scheme to steal millions of dollars from three separate corporate bank accounts; by wire transferring them from the First National Bank of Chicago to two New York banks, Citibank and Chase Manhattan Bank, with the ultimate goal of transferring the money to three accounts in Vienna, Austria.
Moore’s associates, Otis Wilson and Gabriel Taylor, who were employed at the bank as clerks, played a pivotal role in this elaborate plot. The heist resulted in a staggering haul of $69.7 million stolen from United Airlines, Merrill Lynch & Co., and Brown-Forman Corp. The audacity of this crime was such that the perpetrators impersonated officials from Merrill Lynch & Co. to authorize wire transfers, confirmed by mandatory tape recordings of the calls.
However, the sheer magnitude of the theft ultimately led to Moore and his team’s downfall. Within days of the robbery, the affected firms detected discrepancies in their accounts and promptly alerted the authorities. As a result, the culprits were apprehended before they could access the stolen funds overseas. Most of the stolen funds were recovered, with the rest on their way.
Several of Moore’s accomplices, including Taylor and Herschel Bailey (Moore’s relative), pleaded guilty in court and testified against Moore. Bailey revealed that Moore had approached him to recruit bank employees and had meticulously planned and coordinated the wire transfer scheme.
Despite the U.S. District Court Judge Harry Leinenweber branding the crime as “stupid,” Assistant U.S. Attorney Jeff Stone acknowledged it as “the most massive and almost successful computer crime” in U.S. history. Moore received a ten-year and five-month prison sentence, and his accomplices received varying sentences.
Now, back to the film ‘Heist 88.’ Director Menhaj Huda took creative liberties to inject elements of fiction into the narrative, making changes such as renaming the protagonist Jeremy Horne. The film’s screenwriter, Dwayne Johnson-Cochran, had a personal connection to the story, having covered it as a local Chicago reporter in 1988. He decided to adapt the story into a screenplay, which Huda expanded upon in the movie.
While ‘Heist 88’ takes a different path for the robbery’s conclusion and alters some minor details of the crime, its core remains rooted in reality. I must admit that the film had a pacing and dialogue style reminiscent of a TV show, but I thoroughly enjoyed it.
I came across this film while indulging in a binge-watching session at home, and it caught my attention. After watching it, I was intrigued to learn more about the real Chicago 1988 bank robbery that served as its inspiration. It’s fascinating how truth can sometimes be stranger than fiction. If you haven’t seen ‘Heist 88’ yet, I’d definitely recommend it for a thrilling movie night! 🍿📽️
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