Canadian police arrest 43-year-old in $20m largest-ever gold theft at Toronto airport

Canadian police have taken a 43-year-old man into custody in connection with the country’s largest-ever gold theft, while another primary suspect is believed to be in India, authorities said on Monday.

Peel Regional Police confirmed that Arsalan Chaudhary was arrested at Toronto Pearson International Airport after arriving on a flight from Dubai in the United Arab Emirates. Investigators said Chaudhary has no fixed address.

He has been charged with theft over $5,000, possession of property obtained by crime, and conspiracy to commit an indictable offence.

The arrest is part of Project 24K, an ongoing investigation into the theft of gold valued at more than $20 million from Toronto’s main airport in April 2023. Police have described the incident as the biggest gold heist in Canadian history.

As per investigators, a flight from Zurich, Switzerland, landed at Toronto Pearson International Airport on April 17, 2023 carrying a cargo of nearly 400 kilograms of .9999-purity gold — approximately 6,600 bars — along with foreign currency worth about $2.5 million.

The consignment was unloaded and transferred to a holding area within the airport premises but was reported missing just hours later, prompting a large-scale investigation involving multiple agencies in Canada and abroad.

Police said the investigation has so far resulted in charges or arrest warrants being issued against ten individuals linked to the theft.

Among the accused is Simran Preet Panesar, a 33-year-old former Air Canada employee from Brampton, whom investigators believe is currently in India. 

Authorities allege Panesar played a pivotal role in locating and redirecting cargo by exploiting airline systems. He was previously traced to a rental accommodation close to Chandigarh, and a Canada-wide arrest warrant has been issued against him. 

Another suspect, Archit Grover, also from Brampton, was arrested at Toronto Pearson Airport in May 2024 after returning from India.

Several other suspects have also been taken into custody, including Parmpal Sidhu, 54, a former Air Canada employee, and Amit Jalota, 40, both residents of Ontario. Prasath Paramalingam, 36, of Brampton, and Ali Raza, 37, of Toronto, have also been arrested.

In addition, Ammad Chaudhary, 43, and Durante King-Mclean, 27, both from Brampton, are among those charged. King-Mclean is currently being held in the United States in connection with firearms trafficking offences.

Peel Regional Police Chief Nishan Duraiappah stated that the case highlighted the force’s ability to investigate organised, high-value crime. 

“Project 24K demonstrates how coordinated efforts with national and international partners can dismantle sophisticated criminal networks. Those involved should be aware that there is no safe place to hide,” Durraiappah said.