Arsalan Chaudhary, a 43-year-old man, was arrested at Toronto Pearson International Airport as he flew in from Dubai, United Arab Emirates. Photo: X| @PeelPolice
Canadian police arrest suspect in $20m gold heist; another at large in India
Ex-Air Canada employee Simran Preet Panesar, believed to be residing in India, had allegedly helped with insider information to route the cargo out of airport
In one of the largest gold heists in the country, Canada police arrested 43-year-old Arsalan Chaudhary at Toronto Pearson International Airport on Monday (January 12). Dubbed as Project 24K, and described as the largest gold robbery in Canadian history, the police had investigated the theft of over $20 million in gold bars in 2023.
Another suspect, a former employee of Air Canada is still at large and is believed to be in India.
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The Canada police has already arrested 7 people in connection with the theft.
Prime suspects
Chaudhary has been detained on the charges of over $5,000 theft, possession of property obtained by crime and conspiracy to commit an indictable offence.
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Peel Regional police said 10 individuals have been charged or are wanted, with more than 21 charges laid. Two more suspects remain outstanding, they added.
Among them is former Air Canada employee Simran Preet Panesar, aged 33 from Brampton. Police believe that Panesar, currently residing in India, used his insider knowledge to help identify and reroute the valuable cargo.
Investigators allege Panesar exploited airline systems to help identify and divert the gold shipment. He was last traced to a rented apartment near Chandigarh, and a Canada-wide warrant is still in effect for his arrest.
The case
The heist dates back to April 2023 when a high-value cargo shipment vanished from a secure airport facility. A shipment of 6,600 pure gold bars and millions in foreign currency vanished from Toronto Pearson airport, shortly after landing from Switzerland.
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The aircraft carried around 400 kgs of .9999-pure gold, equal to roughly 6,600 bars, valued at more than $20 million. The cargo also included foreign currency worth $2.5 million.“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,” said, Chief Nishan Duraiappah, Peel Regional Police.