Canada Arrests Man in $20M Gold Heist, Suspect Believed in India

Canadian police have arrested a man in connection with the largest gold theft in the country’s history, involving more than $20 million worth of gold stolen from Toronto Pearson International Airport in 2023. Peel Regional Police confirmed the arrest as part of “Project 24K,” a long-running investigation into the high-profile crime.

The suspect, Arsalan Chaudhary, 43, was arrested on Monday at Toronto Pearson International Airport after arriving on a flight from Dubai. Police said Chaudhary has no fixed address and has been charged with theft over $5,000, possession of property obtained by crime, and conspiracy to commit an indictable offence.

The gold heist occurred on April 17, 2023, when a shipment arriving from Zurich, Switzerland, was unloaded at the airport. The cargo included nearly 400 kilograms of .9999-pure gold—about 6,600 bars—along with $2.5 million in foreign currency. The shipment was moved to a holding area on airport property but was reported missing just hours later.

Investigators later identified multiple suspects connected to the theft. Among them is Simran Preet Panesar, a former Air Canada employee from Brampton, who police believe is currently in India. Authorities allege Panesar helped divert the shipment by manipulating airline cargo systems. A Canada-wide arrest warrant has been issued for him.

Several other individuals have already been arrested in the case, including former airline employees and associates based in Ontario. Peel Regional Police say the investigation involved national and international partners and demonstrates their ability to track suspects across borders.

Police officials emphasized that the case sends a strong message to organized crime groups. “No matter where suspects attempt to flee or hide, they will be located and held accountable,” Peel Regional Police said, adding that the investigation remains ongoing