[1] After their last heist, the Olsen Gang went to Majorca, but without any money, as the loot accidentally got incinerated after Benny and Kjeld threw it out the window to hide it from the police.

Egon escapes though, and makes it back to Denmark, where he reunites with Benny and Kjeld with a new plan to exact revenge and claim his payment.

The safe held the Bedford Diamonds, an extremely valuable collection of jewelry, much sought-after as an inflation-proof investment for cash and wanted by police all over the world.

Using a boat, a bus and one hundred balloons, the Gang manage to snatch the diamonds under the very nose of the Sheikh and his police escort.

Realizing he has been played, Holm Hansen calls the real police, which promptly arrest him on finding the Bedford Diamonds in his possession.