Netflix got its start with English-language shows and movies, but in 2024, the streamer is known for housing some of the world’s biggest international projects. One of their biggest success stories, Squid Game, is due to return for a second season this December, but ahead of that, they’re shining the spotlight on other countries. Just last week, it was Spain’s turn to shine thanks to a new miniseries called Bank Under Siege, starring María Pedraza, Miguel Herrán, Hovik Keuchkerian and Isak Férriz, among others.

The five-episode project is based on the true story of the 1981 Central Bank Heist in Barcelona, which saw a group of politically and economically motivated robbers capture hundreds of hostages while demanding the freedom of their imprisoned colleagues. If you’ve watched Bank Under Siege and are looking for more clarity on the show’s events, or simply want to know the true story behind the miniseries, keep reading to satisfy your curiosity and learn more!

The True Story of the 1981 Barcelona Central Bank Heist

Though Bank Under Siege is based on true events, “creative liberties have been taken to make the narrative more crisp and compelling,” Sportskeeda notes. The real heist took place on May 23, 1981 – three months after an attempted coup by the Civil Guard and members of the military (known as the 23-F coup). The Barcelona Central Bank seige plan was organized as a “political move to free the mastermind of the coup, Colonel Tejero, and three other prisoners.” While their main goal wasn’t to rob the bank, they did take the opportunity to loot the building not long after they entered around 9 AM.

Eleven hooded men carrying rifles walked into the bank that morning, identifying themselves using numbers to conceal their true names. While capturing 200 hostages, they fired gunshots in the air and injured an employee in the knee; the shots were a dual message – for the hostages to stop their resistance efforts, and a threat to the government if they failed to meet the robbers’ demands. In response to the crisis, authorities surrounded the building and urged robbers to share their list of requests, which included the release of Rojas, as well as lieutenant colonels Antonio Tejero Molina, Jose Ignacio San Martin and Pedro Mas Oliver. All the men were previously arrested for their involvement in the failed February 1981 coup.

While keeping the hostages from their loved ones, robbers gave police 72 hours to free the general and colonels and put them on a plane to Argentina. They also demanded a separate plane so they could safely escape after their mission. With the country’s political instability being exposed worldwide, government officials felt pressure to act fast. They tried to negotiate, but the hooded men only threatened to start eliminating hostages using bombs they had planted at the bank earlier.

How Does Netflix’s ‘Bank Under Siege’ End?

In the true Bank Under Siege story, one of the eleven robbers lost his life; nine were taken down by authorities and another managed to escape. Those who were caught were later identified as members of the Civil Guard who were involved with Rojas as the other colonels. On-screen, journalist Maider is discouraged from pursuing the story by her boss and others close to her, but she feels called to investigate regardless. Her search leads her to Francisco López, who shares every detail he has about one of the robbers, José, but makes a point to warn Maider of the risks she’s up against.

After speaking to José, the reporter decides she doesn’t fully trust him and seeks out other sources. In the finale of Bank Under Siege, she learns from López that Captain Gil Sanchez Valiente was with Tejero during the February coup, allegedly leaving with crucial documents at the time. Upon uncovering the damning information, Maider receives more warnings along with a back-handed suggestion about writing a book on the election instead of pursuing true crime. After some digging, she and López find out the aforementioned document contained names to key coup figures that Manglano intended to use for his CESID position. Just as she’s feeling close to the truth, Maider and her colleagues are faced with an exploding car that leaves them shaken up and prioritizing their safety over seeking answers.