Canada gold heist suspect believed hiding in India
Police believe he exploited insider knowledge to identify the shipment and secretly reroute the valuable cargo for theft.
Police in Canada continue to hunt for a key suspect in what is being described as the country’s largest gold theft, a case that has gripped investigators and raised serious questions about security at one of the nation’s busiest airports. Authorities believe Simran Preet Panesar, one of the main accused, is currently in India, even as the investigation stretches across borders and years after the crime.
The probe, known as Project 24K, centres on the dramatic theft of more than $20 million worth of gold from Toronto’s Pearson International Airport in 2023. Despite several arrests and months of investigation, police say Panesar remains beyond their reach, making him a central focus of ongoing international efforts.
According to investigators, the theft was not a random crime but a carefully planned operation that relied heavily on insider knowledge. Police believe those involved knew exactly how airport cargo systems worked, allowing them to identify the high-value shipment and reroute it without immediately raising alarms. The gold, along with millions of dollars in foreign currency, disappeared shortly after arriving from Switzerland, leaving authorities scrambling to trace how such a massive shipment could vanish so easily.
On Monday, the case saw a significant development with the arrest of Arsalan Chaudhary, 43, at Toronto Pearson International Airport. Chaudhary was taken into custody by Peel Regional Police after arriving on a flight from Dubai. He now faces serious charges, including theft over $5,000 and conspiracy, adding another layer to the expanding investigation.
Police say Chaudhary’s arrest is an important step, but it does not bring closure. Investigators stress that the alleged mastermind or a key facilitator of the crime is still at large. The belief that Panesar is in India has prompted discussions around international cooperation, extradition possibilities, and the challenges of pursuing suspects across jurisdictions.
The original theft in April 2023 sent shockwaves through Canada’s logistics and security sectors. A shipment containing 6,600 pure gold bars and large sums of foreign currency vanished from airport property, exposing vulnerabilities in cargo handling systems. For many, the case has become a stark reminder that even high-security zones are not immune to sophisticated, inside-driven crimes.
As Project 24K continues, police remain determined to bring all those responsible to justice. For now, the trail leads overseas, and investigators say they will not rest until the final suspect is found and held accountable, no matter how far the pursuit must go.