Toronto: Canadian investigators have made another breakthrough in the investigation into what is being described as the largest gold theft in the country, with the arrest of a suspect at Toronto’s Pearson International Airport. However, police say a central figure in the case, last believed to be in India, continues to evade arrest.
Peel Regional Police confirmed that 43-year-old Arsalan Chaudhary was taken into custody on Monday after landing in Toronto on a flight from Dubai. Authorities stated that Chaudhary does not have a permanent address, though earlier records linked him to Mississauga.
Chaudhary faces multiple criminal charges, including theft exceeding $5,000, possession of property obtained through criminal means, and conspiracy to commit an indictable offence. He was held for a bail hearing and later appeared before the Ontario Court of Justice in Brampton.
The arrest is part of “Project 24K,” the extensive investigation into the disappearance of a high-value shipment of gold and cash from Toronto Pearson Airport in April 2023. The stolen cargo included nearly 400 kilograms of gold—around 6,600 bars of near-pure metal—worth over $20 million, along with approximately $2.5 million in foreign currency.
The shipment had arrived on a flight from Zurich, Switzerland, and was unloaded before being transferred to a holding area within airport property. Just hours later, the cargo was reported missing, triggering an international investigation spanning multiple jurisdictions.
Since then, police have identified ten suspects in connection with the heist, laying more than 21 charges. While several arrests have been made, two individuals remain out of reach of Canadian authorities.
Among those still wanted is 33-year-old Simran Preet Panesar of Brampton, a former Air Canada employee. Investigators allege that Panesar used his access to airline systems to help locate and redirect the valuable shipment. Police believe he fled Canada shortly after the theft and was last tracked to a rented residence near Chandigarh in India. An extradition request has been formally submitted, and he is wanted on charges of theft and criminal conspiracy.
Another accused, Prasath Paramalingam, 36, is also the subject of a bench warrant after failing to appear in court in August 2024.
Police have already apprehended several other suspects over the past year. Archit Grover was arrested at Pearson Airport in May 2024 after returning from India. Others taken into custody include Parmpal Sidhu, 54, Amit Jalota, 40, Ammad Chaudhary, 43, Ali Raza, 37, and Paramalingam prior to his release.
In a related development, a Canada-wide warrant has been issued for Durante King-Mclean, 27, of Brampton, who is accused of theft and possession of stolen property. Police noted that King-Mclean has pleaded guilty to firearms trafficking charges in the United States and is expected to be sentenced there later this year.
Investigators say the case remains active, with efforts ongoing to recover the stolen gold and bring the remaining suspects before Canadian courts.
