Toronto: Police in Canada’s Peel Region have arrested a man in connection with Project 24K, the investigation into the theft of gold bars worth over $20 million, described as the largest gold heist in the country’s history.
According to an official statement issued by Peel Regional Police, 43-year-old Arsalan Chaudhary was arrested on Monday at Toronto Pearson International Airport after arriving on a flight from Dubai, United Arab Emirates. While police noted that Chaudhary has “no fixed address,” earlier reports suggested he is from Mississauga, Ontario.
Chaudhary has been charged with theft over $5,000, possession of property obtained by crime, and conspiracy to commit an indictable offence. He was held for a bail hearing and appeared before the Ontario Court of Justice in Brampton, police said.
The case dates back to April 17, 2023, when a flight from Zurich, Switzerland, landed at Toronto Pearson Airport carrying a cargo shipment of approximately 400 kilograms of .9999-pure gold, equivalent to around 6,600 gold bars, along with $2.5 million in foreign currency. The shipment was moved to a secure location on airport property but was reported missing just hours later.
Following the theft, police launched a cross-border investigation, identifying ten suspects, with more than 21 charges laid so far. While several accused have been arrested, two suspects remain at large.
One of them is Simran Preet Panesar (33), a former Air Canada employee from Brampton, who is believed to be in India. Police allege Panesar helped identify and divert the cargo by manipulating airline systems. He was traced last year to a rented flat near Chandigarh, and an extradition request has been submitted. He faces charges of theft over $5,000 and conspiracy.
Another accused, Prasath Paramalingam (36) of Brampton, is the subject of a bench warrant after failing to appear in court in August 2024.
Meanwhile, Archit Grover was arrested at Toronto Pearson Airport in May 2024 after arriving from India. Other accused already in custody include Parmpal Sidhu (54), Amit Jalota (40), Ammad Chaudhary (43), Ali Raza (37) and Prasath Paramalingam (36).
Police have also issued a warrant against Durante King-Mclean (27) of Brampton on charges of theft and possession of stolen property. King-Mclean has recently pleaded guilty to firearms trafficking-related charges in the United States and is expected to be sentenced later this year.
Peel Regional Police said the investigation remains ongoing and further arrests are possible as authorities continue to track the remaining suspects and recover stolen assets.
