Canadian Police arrest suspect in country’s biggest gold heist; key accused believed to be in India

Toronto: Canadian police have arrested another suspect in connection with what they describe as the largest gold theft in the country’s history, while a key accused in the case is believed to be in India, authorities said on Monday.

Peel Regional Police said 43-year-old Arsalan Chaudhary was arrested at Toronto Pearson International Airport after arriving from Dubai in the United Arab Emirates (UAE). Investigators said he has no fixed address. Chaudhary has been charged with theft over $5,000, possession of property obtained through crime and conspiracy to commit an indictable offence.

The arrest forms part of Project 24K, an ongoing investigation into the theft of gold worth more than $20 million from Toronto’s main airport in April 2023.

When did the heist happen?

According to investigators, a flight from Zurich, Switzerland, landed at Toronto Pearson International Airport on April 17, 2023, carrying a cargo shipment of nearly 400 kilograms of .9999-purity gold, about 6,600 bars, along with foreign currency valued at approximately $2.5 million. After being unloaded and transferred to a holding area within the airport, the shipment was reported missing just hours later, prompting a wide-ranging investigation involving multiple agencies and international cooperation.

Police said the probe has so far resulted in charges or arrest warrants against 10 individuals allegedly linked to the theft. Among them is Simran Preet Panesar, a 33-year-old former Air Canada employee from Brampton, who investigators believe is currently in India. Police allege Panesar played a central role in identifying and diverting the shipment by exploiting airline systems. A Canada-wide arrest warrant has been issued for him, and he was previously traced to a rented residence near Chandigarh.

Several other suspects have already been arrested, including Parmpal Sidhu, 54, another former Air Canada employee, and Amit Jalota, 40, both from Ontario. Prasath Paramalingam, 36, of Brampton, and Ali Raza, 37, of Toronto, have also been taken into custody. In addition, Ammad Chaudhary, 43, and Durante King-Mclean, 27, both from Brampton, have been arrested, with King-Mclean currently being held in the United States on separate firearms trafficking charges.

Peel Regional Police Chief Nishan Duraiappah said the case demonstrates the force’s ability to take on organised, high-value crime. “Project 24K shows how coordinated efforts with national and international partners can disrupt sophisticated criminal activity and hold those responsible accountable,” he said. “Let it be known: no matter where you try to run or hide, we will find you.”