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A man has faced court over an alleged hold-up at a Melbourne CBD gold dealer where he staged a heist worth close to $4 million, making it one of Victoria’s largest armed robberies in history.

Police arrested Karl Kachami, 48, from Hawthorn East yesterday afternoon, following the alleged armed robbery at Melbourne Gold Company on Collins Street on Monday about 9.40am.

The gold heist was worth $3.9 million and was later found buried at a rural property at Dollar in South Gippsland.

Significant quantities of gold bullion and cash, along with a loaded handgun and stolen numberplates were unearthed.

Detectives also raided two residential properties in Hawthorn East and Fitzroy.

Mr Kachami was last night charged with armed robbery, theft, false imprisonment, armed with criminal intent, common law assault and two counts of non-prohibited person in possession of a handgun.

He faced the Melbourne Magistrates’ Court late last night and was remanded to appear for a filing hearing this morning.

The case was adjourned to July 24 in today’s short hearing. The man did not apply for bail.

A 48-year-old Hawthorn East woman was also arrested, however she was released pending further enquiries.

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