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THE ROBBERY OF security vans can take place at any time of the day, though, as a rule, the Metropolitan Police do not encounter hijackers attempting a quick getaway during the rush hour.

Neither do they expect trouble with a cargo that is sewn up tight.

Only a privileged few knew exactly when the Kruxator Collection would arrive in the country. That it was due to come to Britain was common knowledge, and you had only to read a newspaper to discover that March 15th was the day on which the fabled group of paintings and jewellery were to go on display - for two weeks - at the Victoria and Albert Museum.

The Kruxator Collection is called after its founder, the late Niko Kruxator, whose fabulous wealth arose from sources unknown, for he had arrived penniless in the United States at about the time of the Wall Street Crash in October 1929. By the time he died in 1977, most people thought of him as the Greek shipping magnate, but he still held his interest in Kruxator Restaurants, and the great international chain of Krux-Lux Hotels.

He was also sole owner of the Kruxator Collection, which he left to the country of his adoption - all 300 paintings and 700 fantastic objects of art, including three icons dating back to the fifteenth century, smuggled out of Russia at the time of the Revolution, and no less than sixteen pieces once owned by the Borgias: a collection beyond price, though insured for billions of dollars.

The two-week London showing of the Kruxator Collection would be the last in its tour of European capitals before the whole consignment was returned to New York. Niko had been shrewd enough to leave an endowment for a gallery in which these priceless objects could be displayed. He wanted to be remembered, and had taken steps to make certain that his name would be linked with those of Van Gogh, Breughel, El Greco, Matisse, Picasso and others. Not that he was knowledgeable about art, but he could sense a fair bargain which would appreciate in value, and had acquired the collection as an investment.

A private security firm looked after the precious paintings, drawings and gems on a permanent basis, though host countries were expected to provide extra cover. Nobody was in any doubt that the two armoured vans that carried the exhibits were at constant risk.

When the collection was on display, an elaborate system of electronics protected every item.

The cargo came into Heathrow on an unannounced 747 at six minutes past four in the afternoon. The Boeing was directed to an unloading bay far away from the passenger terminals - near the old Hunting Clan hangars, which still display the name of that company in large white letters.

The armoured vans were waiting. They had arrived by the sea route after depositing the collection the previous evening at the Charles De Gaulle airport in Paris. Two unmarked police cars, each containing four armed plainclothes officers, were now in attendance.

The loaders were trusted employees of the Kruxator Agency who knew their task so well that the entire cargo was off the aircraft and packed into the vans in less than an hour. The unremarkable convoy, led by one of the police cars, the other taking up the rear, set off to make a circuit of the perimeter before joining the normal flow of traffic through the underpass and out on to the M4 motorway. It was just after five-fifteen and the light was beginning to go, with traffic starting to build up both in and out of the capital. Even so, within half an hour the procession would arrive at the end of the motorway where the road narrows to two lanes, taking vehicles on to what is dubiously known as the Hammersmith Flyover, and then into the Cromwell Road.

Later reports from the police cars - which were in touch by radio with the armoured vans - showed a certain amount of confusion during the early part of the journey. An eye-catching black girl, driving a violet coloured sports car, managed to come between the leading car and the first van just as the convoy climbed the ramp on to the Flyover; while an equally striking white girl, in a violet dress, driving a black sports car, cut in between the second van and the police car in the rear.

At first nothing alarming was reported over the radios, though the police vehicles and the armoured vans were being separated even further by the manoeuvres of the two girls who had tucked the violet Lancia and the black Ferrari neatly into the convoy. The trailing police car made two efforts to overtake and get back into position but was thwarted by the Ferrari. Each time it either swung out to prevent the police car from getting in, or pulled over to allow other vehicles to overtake.

The Lancia was carving up the front part of the convoy in a similar way. By the time they reached the Cromwell Road not only had the gap widened between the police cars and the armoured vans, but the two vans had also been parted.

The route had been chosen to ensure maximum security. The convoy was to swing left off the Cromwell Road and proceed into Kensington High Street, then turn right before Knightsbridge, reaching Exhibition Road via the one-way system so as to gain access to the rear of the Victoria and Albert Museum, well away from the exposed main entrance.

One police car had reached the Royal Garden Hotel, on the High Street side of Kensington Gardens, and the other was only just entering the far end of the High Street, when radio communications ceased.

The car in front broke all security regulations, activating its Klaxon and U-turning across a blocked mass of traffic to make its way back along Kensington High Street. The rear car, also in some panic, began to move aggressively. A chaos of honking, hooting vehicles was suddenly smothered in a thick pall of choking, violet coloured smoke.

Later, the drivers and shotgun riders of the two vans gave identical accounts of what happened: "The coloured smoke was just there. No warning, no bombs, nothing, just dense, purple smoke out of nowhere.

Then everything in the cab went live, as though we'd developed some terrible electrical fault. When that happens you turn off the engine, but the shocks kept coming, and we knew we could be electrocuted.

Getting out was a gut reaction .

No one remembered anything after escaping from the vans, and all four men were later discovered, still in safety helmets and flak jackets, neatly laid out on the pavement. They were treated for respiratory problems, as were many others who had been in the vicinity, for the smoke had an unpleasant effect on the lungs.

The two vans simply disappeared, as though a hole had opened up in the road, engulfed them, and then closed over again.

The police officer in charge of the investigation appeared on News at Ten that evening saying that the robbery had been planned to the second. It must have been rehearsed again and again. In fact, as he confided to his colleagues beforehand, so precise was the timing that you might well suppose it to have been a computerised theft. The only clues were the two sports cars and the descriptions of their drivers.

The Central Registry, however, soon revealed that the sports cars' number plates - noted accurately by police officers - had never been issued to any vehicle.

The Kruxator robbery was daring, exact, brilliant and very costly.

The lack of progress made by the police investigating it remained in the headlines for the best part of a month. Even the sly comments suggesting a breach of security, and the sudden resignation of a senior member of the Secret Intelligence Service - by name, Commander James Bond - were relegated to a corner of page two and soon lost altogether to the public eye.

OUTER DARKNESS

IN THE BEGINNING, Standing Orders were quite clear.

Paragraph 12(c) instructed that, Any officer classified as being on active duty who is subject to any alteration in private financial status will inform Head of A Section giving full details and providing any documentation that is thought either necessary or desirable by him.