The Last Exploits of the Olsen Gang (1974) Plot Summary Explained

The gang traveled to Majorca after their last heist had failed. While escaping from the police, Benny and Kjeld accidentally threw the loot out the window to evade capture, not realizing they were discarding their entire fortune. The money burned up in the process, leaving them penniless in Spain.

Foreshadowing: Earlier heists always ended with the gang just barely escaping, establishing their pattern of poor luck with money.

• majorca
• spain
• heist
• burned money
• escape

When Egon was released from prison in Denmark, he deliberately distanced himself from Benny and Kjeld. The traumatic experience in Spain, where his partners accidentally destroyed the loot, made him wary of relying on them again. He chose to pursue a lucrative solo job offered by stock broker Holm Hansen instead of reuniting with his old gang.

Foreshadowing: Egon's distrust stems from the repeated failures caused by his partners' incompetence throughout previous films.

• egon olsen
• benny
• kjeld
• prison
• holm hansen
• betrayal

The Bedford Diamonds are a legendary collection of jewels hidden in a Swiss safe belonging to Holm Hansen's deceased associate. They are described as an inflation-proof investment, making them highly desirable to wealthy collectors worldwide. Holm Hansen sold them to an Arabian Oil Sheikh for 15 million dollars, attracting international police attention.

• bedford diamonds
• jewels
• switzerland
• holm hansen
• sheikh
• 15 million

Egon demanded a 25% share of the safe's contents for his work. Holm Hansen initially agreed, but his Swiss henchman betrayed Egon by leaving him at the mercy of the Swiss authorities. This double-cross was orchestrated by Holm Hansen himself, who had no intention of paying Egon fairly for his services.

Foreshadowing: The safe job was always risky since it relied on a criminal client's honesty.

• switzerland
• double-cross
• henchman
• holm hansen
• betrayal

The gang devised an elaborate scheme using a boat, a bus, and one hundred balloons to lift the diamonds from the Sheikh's convoy. The theatrical operation was executed right under the noses of the Sheikh and his police escort. The plan succeeded in physically taking the diamonds, though it was ultimately a temporary victory.

• balloons
• boat
• bus
• heist
• sheikh
• diamonds

Yvonne Jensen, Kjeld's wife, hid the real diamonds and replaced them with worthless keepsakes to prevent the gang from getting caught with the stolen jewels. Her quick thinking derailed Egon's plan to extort half of the 15 million from Holm Hansen, as the diamonds he was trying to use as leverage were worthless fakes.

Foreshadowing: Yvonne has consistently shown herself to be smarter than the gang in previous films.

• yvonne jensen
• diamonds
• swap
• fakes
• extortion

After Egon's extortion plan failed due to Yvonne's diamond swap, Holm Hansen concluded that Egon was too dangerous to leave alive. Egon knew too much about the diamond deal and had already attempted to extort half of the 15 million. Holm ordered his henchman Bøffen to make Egon disappear permanently.

• holm hansen
• bøffen
• murder
• extortion
• threat

Bøffen captured Egon at Copenhagen harbor and attempted to drown him as ordered. However, Benny and Kjeld arrived just in time to pull Egon from the water, saving his life. This rescue rekindled their partnership and set up the final confrontation with Holm Hansen.

• copenhagen harbor
• rescue
• drowning
• bøffen
• benny
• kjeld

Egon pretended to be a captive while Benny and Kjeld disguised themselves as police officers. When they confronted Holm Hansen, he was distracted by the fake police presence. While he was busy realizing the officers were imposters, Egon and Kjeld opened the safe and switched the 15 million dollars with the hidden diamonds, framing Holm Hansen for possession of the stolen jewels.

• police disguise
• switch
• holm hansen
• safe
• arrest

During the final confrontation, the gang successfully swapped the 15 million dollars in Holm Hansen's safe with the Bedford Diamonds. When Holm Hansen called the real police to report the intruders, the diamonds were found in his possession. With the evidence against him and the gang escaped, Holm Hansen was arrested while the Olsen Gang fled to Majorca with the money.

• holm hansen
• arrest
• diamonds
• majorca
• escape