New Delhi: Canadian authorities have arrested a man linked to what investigators describe as the largest gold theft in the country’s history, while confirming that another prime suspect in the case is believed to be in India.
Peel Regional Police said Arsalan Chaudhary (43) was arrested at Toronto Pearson International Airport after arriving from Dubai. The arrest is part of Project 24K, a multi-agency probe into the 2023 theft of gold bars worth over $20 million. Police said Chaudhary has no fixed address and now faces charges of theft over $5,000, possession of property obtained by crime, and criminal conspiracy.
The case dates back to April 17, 2023, when a cargo flight from Zurich landed at Pearson airport carrying a shipment of nearly 400 kilograms of .9999-purity gold, equivalent to about 6,600 bars, along with $2.5 million in foreign currency. After being offloaded and transferred to a secure area within airport premises, the shipment mysteriously vanished and was reported missing hours later.
Investigators launched a wide-ranging cross-border probe that eventually led to charges or arrest warrants against ten individuals. Among them is Simran Preet Panesar (33), a former Air Canada employee, who authorities believe played a critical role in diverting the shipment by manipulating airline cargo systems.
Canadian police say Panesar is currently believed to be in India and was last traced to a rented accommodation near Chandigarh. A Canada-wide arrest warrant remains active against him, and officials are exploring international cooperation avenues for his return.
Another accused, Archit Grover, a resident of Brampton, was arrested in May 2024 at Toronto Pearson Airport after flying in from India, further strengthening investigators’ claims of an international network behind the operation.
Police say the investigation remains ongoing, with authorities tracking financial trails, international movements, and possible accomplices connected to the high-value heist. Officials have described the theft as highly coordinated, involving insider access and precise timing.
The case continues to draw attention for both its scale and its global footprint, with investigators stressing that further arrests are possible as the probe progresses.
