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Canada arrests man in its largest gold heist case; ‘believes’ another is in India
Peel Regional Police said that 33-year-old Simran Preet Panesar of Brampton, a key accused in the gold heist case, is believed to be in India.
Canada's Peel Regional Police on Monday said they have arrested and charged a man in connection with Project 24K, an investigation into the theft of over $20 million in gold bars, described as the largest gold heist in Canadian history.
In an official statement, PRP said that investigators arrested and charged 43-year-old Arsalan Chaudhary at Toronto Pearson International Airport as he flew into the country from Dubai, United Arab Emirates.
Police said that Chaudhary has no fixed address. He has been charged with theft of more than $5,000, possession of property obtained by crime X2, and conspiracy to commit indictable offence.
Canada's largest gold heist
On April 17, 2023, a flight landed at Pearson International Airport from Zurich, Switzerland, carrying a cargo of 400 kilograms of .9999-pure gold, equivalent to 6,600 bars, and worth over $20 million, along with $2.5 million in foreign currency.
Shortly after the flight landed, the cargo was offloaded and transported to another location within the airport property. A day later, in the early hours of April 18, the cargo was reported missing.
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Peel Regional Police immediately launched a complex, cross-border investigation in collaboration with the Philadelphia Field Division of the Bureau of Alcohol, Tobacco, Firearms and Explosives.
Following a nearly year-long investigation, police began hunting for two Indo-Canadians who worked in the warehouse from where the gold was allegedly stolen as part of a heist.
The two individuals were identified as Brampton's Parampal Sidhu and Simran Preet Panesar. While Sidhu was arrested in May 2024, Panesar, who worked as a manager at the facility and even facilitated a tour of the robbed space to the police, had left Canada by then.
Canada-wide warrants have been issued for Panesar.
Project 24K probe status
To date, PRP have identified and charged, or issued warrants for, ten individuals, in connection with the theft.
Furthermore, PRP stated that 33-year-old Simran Preet Panesar is believed to be in India, adding that it has submitted an extradition request.
Another alleged accused, Prasath Paramalingam, a 36-year-old man from Brampton, is the subject of a bench warrant after he failed to appear in court on August 19, 2024.
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PRP have also issued a warrant for one Durante King-Mclean, a 27-year-old from Brampton, on the charges of theft over $5,000 and possession of property obtained by crime.
King-Mclean recently pled guilty to firearms trafficking-related charges in the United States and is expected to be sentenced later this year.
Peel Regional Police said that investigators remain in contact with King-Mclean and his legal counsel.
PRP chief Nishan Duraiappah issued a statement in connection with the probe, saying that their investigation into the heist demonstrates their dedication and expertise in tackling complex and high-stakes crimes.
"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," Duraiappah said.
