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True Crimecast

The Volvo Heist - North Korea

True Crimecast

Stove Leg Media

True Crime, Personal Journals, Society & Culture, Documentary

4.71.4K Ratings

🗓️ 13 February 2026

⏱️ 7 minutes

🧾️ Download transcript

Summary

In 1974, Sweden delivered 1,000 Volvo 144 sedans to North Korea, hoping to spark a new era of trade. The cars arrived, but the payment never did. Five decades later, the debt has ballooned into the billions, and the vintage Volvos are still being spotted on the streets of Pyongyang. This episode of True Crime To Go breaks down the largest "car theft" in history—a state-sponsored swindle that remains on Sweden's books to this day.

Transcript

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0:00.0

Stoveleg Media, Igniting Conversation.

0:05.0

Welcome to True Crime to Go. What can I get for you?

0:16.0

Yeah, we did a car theft last week, and I need another one, but like a lot, like maybe a thousand cars.

0:24.7

Pull up to the second window and we'll see you next crime.

0:32.0

Welcome to True Crime to Go. I am John here with Jamie. I misspoke. I said we did a stolen car. We did a stolen

0:39.0

tour bus. Yeah, yeah. So stolen vehicles are on my mind. So that will be the theme of this week.

0:45.2

We're going to start out with what may be known as one of the largest car thefts of all time. And

0:52.2

it wasn't stolen by an individual, nay an entire country yeah i think i

0:57.5

saw this movie it was called gone in 60 seconds with nicholas cage no this is about

1:03.5

sweden and north korea anytime we can throw some shade at north koreau How do those two countries ever do anything together?

1:13.0

Well, maybe they don't anymore.

1:14.5

This was in the 70s, so maybe things were a lot different then.

1:17.9

Sweden's always neutral, and North Korea is always North Korea.

1:22.8

Anyway, get us rolling.

1:24.4

Sweden was working to build diplomatic and trade relations on both sides of the Cold War

1:30.6

divide.

1:31.6

And one of the countries that it opened relations with was North Korea.

1:36.6

We're going to find out how that worked out for them.

1:39.1

But as part of that new relationship in the 1970s, there was a major business deal that ended up being struck.

1:45.7

North Korea agreed to purchase 1,000 Volvo 144 sedans. I don't know those cars right off.

1:55.2

Like, I don't know how awesome they are. But Volvo, historically, has been a pretty good car.

2:00.2

These, of course, were made in Sweden.

...

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