He was arrested several times for theft; he became legendary for his many successful escapes, and for his spectacular robbery of Norges Bank.

[2] His spectacular robbery of the Christiania department of Norges Bank in 1835 earned him the amount of 64,000 speciedaler.

He was eventually arrested for the last time in 1842, and was extraordinarily heavily guarded during his subsequent imprisonment at Akershus.

[1] Poet Henrik Wergeland wrote two songs about Høiland, the first "Ny Vise om Ole Pedersen Høilands sidste mærkelige Undvigelse fra Agerhuus Fæstning Natten til den 17de September 1839", and another song after his final arrest in 1842.

His life was basis for the film Ballad of the Masterthief Ole Hoiland from 1970, directed by Knut Andersen, where Per Jansen played the title character.