So called "smash and grab" ATM thefts-where thieves use a car or other heavy machinery to smash through walls and windows in order make off with the machines-have not generally been very successful, according to authorities.

But New York City police charged that one alleged thief, Valentine Garcia, managed to make off with at least four of the machines placed in retail locations by independent service organizations and, when he finished cleaning them out, dumped them into the Flushing River.

After receiving anonymous tips about the fate of the missing machines, police divers endured the cold water to find them about seven feet down. Police charge Garcia made off with at least $12,000 in the thefts, and he is being held on $25,000 bail.