$20 million gold heist in Canada: Suspect arrested at Toronto Pearson, one accused believed in India

Canada’s largest gold heist: Man arrested at Toronto airport in $20 million Project 24K case

• Canadian police arrest man in $20M gold heist at Toronto airport
• Ten suspects charged or wanted; some accused are former airline employees
• Authorities seek extradition of key suspect believed to be in India

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Canadian police have arrested a man in connection with Project 24K, the investigation into the theft of more than $20 million worth of gold bars, described as the largest gold heist in the country’s history.

Peel Regional Police said Arsalan Chaudhary, 43, was arrested on Monday at Toronto Pearson International Airport after arriving on a flight from Dubai. Investigators said Chaudhary has no fixed address and has been charged with theft over $5,000, possession of property obtained by crime, and conspiracy to commit an indictable offence. He appeared before the Ontario Court of Justice in Brampton for a bail hearing.

How the gold vanished

The case dates back to April 17, 2023, when a cargo flight from Zurich, Switzerland, landed at Pearson airport carrying around 400 kilograms of .9999-pure gold, about 6,600 bars, along with $2.5 million in foreign currency. After being unloaded, the shipment was moved within the airport complex but was reported missing within hours, triggering a major investigation.

Multiple arrests, suspects abroad

Police launched a cross-border probe and have so far charged or issued warrants against 10 individuals, laying more than 21 charges. Among those still at large is Simran Preet Panesar, a 33-year-old former Air Canada employee from Brampton who investigators believe is in India.

Police allege Panesar helped divert the shipment by exploiting airline systems, and a Canada-wide arrest warrant has been issued against him. Authorities have confirmed that an extradition request has been submitted to the Indian government.

Another accused, Prasath Paramalingam, 36, of Brampton, is also wanted after failing to appear in court in August 2024. Police have urged both men to surrender.

Inside job allegations

Several of the accused are former airline employees, including Parmpal Sidhu, 54, and Amit Jalota, 40. Others arrested include Archit Grover, Ali Raza, Ammad Chaudhary, and Durante King-Mclean, who is currently being held in the United States on firearms-related charges.

Peel Regional Police Chief Nishan Duraiappah said, “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.”

Project 24K remains ongoing as authorities continue efforts to track down the remaining suspects and recover the stolen gold.