Canada arrests suspect in $20 million gold heist at Toronto airport

Dubai: Canadian authorities have arrested a 43-year-old man at Toronto Pearson International Airport in connection with the country’s largest-ever gold theft, following his arrival on an international flight.

Arsalan Chaudhary, who investigators say has no fixed address, was taken into custody by Peel Regional Police, according to a report from NDTV. His arrest is the latest breakthrough in "Project 24K," an intensive investigation into the April 2023 theft of more than $20 million worth of gold from Toronto's main airport.

The heist took place after a flight from Zurich, Switzerland, touched down in Toronto on 17 April 2023. The cargo contained approximately 400 kilograms of .9999-purity gold—roughly 6,600 bars—alongside $2.5 million in foreign banknotes.

According to police, the shipment was offloaded and moved to a holding area on airport property. It was reported missing only a few hours later, sparking a multi-agency probe that has since crossed several international borders.

The investigation has increasingly focused on the role of aviation insiders. Among those named in the probe is Simran Preet Panesar, a 33-year-old former Air Canada employee from Brampton.

Investigators believe Mr Panesar played a pivotal role in the operation by using his access to airline systems to identify and divert the shipment. While a Canada-wide warrant has been issued for his arrest, authorities believe he is currently in India, having previously been traced to the Chandigarh region.

Mr Chaudhary has been charged with theft over $5,000, possession of property obtained through crime, and conspiracy to commit an indictable offence. He is the tenth individual to be linked to the case through charges or arrest warrants.

The list of those already in custody includes another former Air Canada staff member, Parmpal Sidhu, 54, and several residents from the Ontario region. One suspect, 27-year-old Durante King-Mclean, is currently being held in the United States in relation to firearms trafficking offences.

Peel Regional Police Chief Nishan Duraiappah stated that the scale of the theft required an equally significant enforcement response.

"Project 24K shows how coordinated efforts with national and international partners can dismantle sophisticated criminal networks," he said. "Those involved should know that there is no safe place to hide."