 "$20 mn gold heist: Indian arrested in Canada as suspect in Project 24K theft case")
A man in Canada’s Peel region has been arrested in connection with Project 24K, the investigation into the theft of more than $20 million in gold bars, described as the largest gold heist in Canadian history. Arsalan Chaudhary, 43, was arrested on Monday at Toronto Pearson International Airport after arriving on a flight from Dubai in the United Arab Emirates.
Police said Chaudhary has no fixed address and has been charged with theft of more than $5,000 obtained by crime, as well as conspiracy to commit an indictable offence.
Gold shipment vanished within hours
The case centres on a cargo shipment that arrived at Toronto Pearson International Airport on April 17, 2023, on a flight from Zurich, Switzerland. The consignment included around 400 kilograms of .9999-pure gold, equivalent to 6,600 bars worth more than $20 million, along with $2.5 million in foreign currency.
After the cargo was unloaded, it was transferred to another location within the airport complex. The shipment was reported missing within hours, prompting a major police investigation.
Multiple arrests and international manhunt
Following the disappearance of the gold, police launched a cross-border probe and charged, or issued arrest warrants for, ten individuals allegedly linked to the theft.
One of the accused is Simran Preet Panesar, a 33-year-old Brampton resident and former Air Canada employee, who is believed to be in India. Investigators allege that he helped identify and redirect the cargo by exploiting airline systems. He was later traced to a rented apartment near Chandigarh, and a Canada-wide arrest warrant has been issued against him.
Another accused, Archit Grover of Brampton, was arrested at Pearson International Airport in May 2024 after returning from India.
Former airline employees among accused
Police have also arrested 54-year-old Parmpal Sidhu, a former Air Canada employee, and 40-year-old Amit Jalota, both from Ontario.
In addition, Prasath Paramalingam, a 36-year-old resident of Brampton, and Ali Raza, a 37-year-old man from Toronto, were taken into custody. Two other Brampton residents, 43-year-old Ammad Chaudhary and 27-year-old Durante King-Mclean, were also arrested. King-Mclean is currently being held in the US in connection with firearms trafficking-related charges.
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View AllPeel Regional Police Chief Nishan Duraiappah highlighted the scale and complexity of the investigation.
“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,” he said.
Investigations into the gold theft remain ongoing.
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