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New Delhi: The net is tightening around the perpetrators of the largest gold robbery in Canadian history. Peel Regional Police announced Monday the arrest of a key suspect in "Project 24K," a high-stakes investigation into the daring 2023 theft of more than 20 million dollars in pure gold bullion.
The Dubai connection
The latest breakthrough came at Toronto Pearson International Airport, the very site of the original crime, when Arsalan Chaudhary, 43, was intercepted by authorities. Chaudhary, described by police as having "no fixed address," was taken into custody immediately after his flight touched down from Dubai, United Arab Emirates.
He now faces a battery of serious charges, including theft over 5,000 dollars, possession of property obtained by crime and conspiracy to commit an indictable offence.
The Zurich Cargo mystery
The heist, which reads like a Hollywood script, unfolded on April 17, 2023. A flight arriving from Zurich, Switzerland, landed at Pearson carrying a massive cargo shipment of approximately 400 kilograms of .9999-pure gold (roughly 6,600 individual bars) valued at over 20 million. The shipment also contained 2.5 million in various foreign currencies.
After being offloaded to a secure airport holding facility, the treasure simply vanished. Hours later, it was reported missing, sparking a massive cross-border manhunt that eventually identified ten suspects.
An inside job and Indian connection
Investigators quickly realised the theft required sophisticated access. Among the ten individuals charged or wanted is Simran Preet Panesar, 33, a former Air Canada employee. Authorities believe Panesar used his position to manipulate airline systems to divert the cargo. While a Canada-wide warrant is out for his arrest, he was last traced at a rented apartment in Chandigarh.
Chaudhary’s arrest is just the latest in a series of dramatic captures.
Archit Grover: Arrested at Pearson in May 2024 upon arriving from India.
Parmpal Sidhu: Another former Air Canada employee (54) from Ontario.
Durante King-Mclean: Currently in US custody, facing separate firearms trafficking charges.
The Brampton/Toronto Contingent: Amit Jalota, Prasath Paramalingam, Ali Raza, and Ammad Chaudhary have also been swept up in the investigation.
No place to hide
Peel Regional Police Chief Nishan Duraiappah praised the tenacity of his team and their international partners in dismantling the "sophisticated criminal activity."
"Project 24K is a clear example of how our officers can disrupt high-stakes crime," Duraiappah said in a statement. "Let it be known: no matter where you try to run or hide, we will find you."
