Canadian police have arrested a man in connection with what is being described as the largest gold heist in the country’s history, while another key suspect is believed to be hiding in India. Reported by Pushkar Tiwari from NDTV.
Peel Regional Police said on Monday that they arrested Arsalan Chaudhary, 43, at Toronto Pearson International Airport after he arrived on a flight from Dubai, United Arab Emirates.
Chaudhary, who police say has “no fixed address”, was taken into custody as part of Project 24K, a major investigation into the theft of gold worth more than $20 million.
He has been charged with theft over $5,000, possession of property obtained by crime, and conspiracy to commit an indictable offence.
The $20 million gold heist
The case dates back to April 17, 2023, when a flight from Zurich, Switzerland, landed at Toronto Pearson International Airport carrying a cargo shipment of around 400 kilograms of .9999-pure gold — about 6,600 bars — valued at more than $20 million. The shipment also included approximately $2.5 million in foreign currency.
After being offloaded, the cargo was moved to a holding area on airport property but was reported missing just hours later. Police launched a large-scale, cross-border investigation soon after.
Over time, investigators identified several suspects and laid charges or issued arrest warrants against ten people in connection with the theft.
Suspect believed to be in India
One of the key accused is Simran Preet Panesar, a 33-year-old former Air Canada employee from Brampton. Police allege Panesar played a crucial role in diverting the shipment by manipulating airline systems.
He is believed to be in India and was last year traced to a rented flat on the outskirts of Chandigarh. A Canada-wide arrest warrant has been issued for him.
Other arrests in the case
Another suspect, Archit Grover of Brampton, was arrested at Toronto Pearson Airport in May 2024 after arriving from India. Others already taken into custody include Parmpal Sidhu, 54, a former Air Canada employee, and Amit Jalota, 40, both from Ontario.
Police have also arrested Prasath Paramalingam, 36, of Brampton, Ali Raza, 37, of Toronto, Ammad Chaudhary, 43, of Brampton, and Durante King-Mclean, 27, also from Brampton.
King-Mclean is currently being held in the United States on firearms trafficking-related charges.
Commenting on the investigation, Peel Regional Police Chief Nishan Duraiappah said:
"This investigation demonstrates the dedication and expertise of Peel Regional Police in tackling complex, high-stakes crime.
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."
Authorities say the investigation remains ongoing as they work with international partners to locate and arrest the remaining suspects.
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