Canada Nabs Suspect in Historic $20 Million Gold Heist

Canadian authorities have arrested a man connected to what is now recognized as the largest gold heist in the nation’s history, valued at over $20 million. Peel Regional Police apprehended Arsalan Chaudhary, aged 43, at Toronto Pearson International Airport after he arrived on a flight from Dubai, United Arab Emirates. Chaudhary, who reportedly has “no fixed address,” faces multiple charges including theft over $5,000, possession of property obtained by crime, and conspiracy to commit an indictable offence.

The investigation, known as Project 24K, stems from an incident that occurred on April 17, 2023. A cargo shipment of approximately 400 kilograms of .9999-pure gold, equivalent to around 6,600 bars, arrived at Toronto Pearson International Airport from Zurich, Switzerland. In addition to the gold, the shipment included about $2.5 million in foreign currency.

After the cargo was unloaded, it was moved to a holding area within airport property. Alarmingly, the shipment was reported missing just hours later, prompting police to initiate a comprehensive cross-border investigation. As the inquiry progressed, investigators identified multiple suspects and issued arrest warrants for ten individuals linked to the theft.

One significant suspect is Simran Preet Panesar, a 33-year-old former employee of Air Canada, who is believed to currently be in India. Authorities allege that Panesar played a pivotal role in orchestrating the diversion of the shipment by manipulating airline systems. A Canada-wide arrest warrant has been issued for him, with law enforcement previously tracing him to a rented flat on the outskirts of Chandigarh.

Another suspect, Archit Grover, also from Brampton, was arrested in May 2024 at the same airport after arriving from India. Other suspects include Parmpal Sidhu, 54, and Amit Jalota, 40, both former Air Canada employees, as well as Prasath Paramalingam, 36, Ali Raza, 37, Ammad Chaudhary, 43, and Durante King-Mclean, 27, all from Ontario. King-Mclean is currently detained in the United States on charges related to firearms trafficking.

Peel Regional Police Chief Nishan Duraiappah commented on the ongoing investigation, stating, “This investigation demonstrates the dedication and expertise of Peel Regional Police in tackling complex, high-stakes crime. Project 24K is a clear example of how our officers, working alongside national and international partners, can disrupt sophisticated criminal activity and hold those responsible accountable. Let it be known: no matter where you try to run or hide, we will find you.”

As authorities continue to collaborate with international partners to locate and apprehend the remaining suspects, the investigation remains active. This case underscores the potential vulnerabilities within air cargo security and the lengths to which individuals may go to exploit them.