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Man charged over $2.4m van heist in 1994

AAP logoAAP 18/11/2016 Genevieve Gannon and Kaitlyn Offer

A man has faced court more than 20 years after he allegedly joined a fake road crew that used signs and traffic cones to pull over an Armaguard van in Melbourne and steal $2.4 million in cash.

Pasquale Lanciana, 59, was arrested by police when they raided his Seddon property on Friday morning.

He's been charged with armed robbery, robbery, kidnapping, theft, false imprisonment, receiving stolen goods and money laundering in relation to the 1994 crime.

Five bandits posing as road workers stopped the fortified vehicle on the on-ramp to the Monash Freeway in Richmond before stealing the cash in June 1994.

The audacious gunpoint robbery was dubbed the "road gang" heist.

Lanciana did not apply for bail during his brief filing hearing on Friday afternoon.

Purana Taskforce detectives reopened the case two-and-a-half years ago.

In March 2014 they charged a Melbourne lawyer with attempting to launder some of the stolen cash.

The investigation then expanded to Queensland with police suggesting at least one of the thieves travelled there after the robbery in a ute used in the heist.

Victoria Police Assistant Commissioner Steve Fontana in 2014 said the case was well planned and violent but also "very solvable".

It was revealed an Armaguard employee may have been part of the plot with the company offering a $100,000 reward for new information.

In August 1994, a man and a woman visited a Melbourne CBD bank to try to exchange $40,000 in cash police say came from the heist.

They were caught on CCTV and left some of the money behind after being spooked.

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