At least 10 bank robbers were shot dead Thursday after Brazilian military police busted a gang trying to blow up ATM machines near Sao Paulo , officials said . A manhunt is underway for the rest of the assailants after they fled two banks in Guararema municipality , 80 kilometres ( 50 miles) northeast of Brazil ’s biggest city, the Sao Paulo state government said in a statement. Some of the attackers forced their way into a house where they held the occupant ’s hostage. The hostages were later freed by military police . Around 25 assailants were involved in the early morning raid , according to the statement. During a search of the area, police found seven rifles , four pistols , explosives and bullet-proof vests . Brazilian TV showed one of the banks targeted by the gang was located next to a police station . The other bank was at the end of the same street.