Canada’s biggest gold heist: Ottawa seeks extradition of key accused from India | Inside Project 24K

Canada has requested India extradite Simran Preet Panesar, accused of orchestrating the country’s largest gold theft at Toronto airport in 2023. Panesar, a former Air Canada employee, allegedly used insider access; much of the $20M gold remains unrecovered.

Did our AI summary help?

Canada has formally asked India to extradite Simran Preet Panesar, the main suspect in what investigators describe as the largest gold theft in Canadian history. Panesar, a 33-year-old former Air Canada employee from Brampton, is believed to be in India, according to the Peel Regional Police. A Canada-wide arrest warrant has been issued against him.

The extradition request comes as Canadian authorities continue to make progress in Project 24K, the long-running investigation into the high-value theft that shook the country’s aviation and cargo security systems.

What happened in the gold heist

The theft dates back to April 2023, when a flight from Zurich landed at Toronto Pearson International Airport carrying nearly 400 kilograms of .9999 pure gold, estimated to be worth over $20 million, along with about $2.5 million in foreign currency. The shipment was moved to a secure holding area within airport property but was reported missing the next day.

Police allege the operation was highly coordinated and involved both insiders and external accomplices. Investigators say Panesar used his access as an airline employee to identify and divert the shipment. According to authorities, the cargo was removed from the warehouse by a suspect who arrived in a large delivery truck.

Much of the stolen gold remains unrecovered.

Who is Simran Preet Panesar

Panesar worked for Air Canada and is accused of playing a central role in planning and executing the theft. Police believe his insider access to airline systems was critical in identifying the shipment and facilitating its removal.

Canadian investigators have previously traced Panesar to rented accommodation near Chandigarh, strengthening their belief that he fled to India shortly after the theft. He faces charges of theft over $5,000 and conspiracy to commit an indictable offence.

An extradition request has now been formally submitted to Indian authorities, who are expected to examine it under applicable treaties and domestic law.

Arrests and other accused

The extradition move followed a fresh arrest earlier this month. On January 12, Arsalan Chaudhary, a 43 year old man of no fixed address, was arrested at Toronto Pearson International Airport after arriving from Dubai. He faces multiple charges, including theft over $5,000 and conspiracy.

So far, police say nine individuals have been charged or are wanted in connection with the case, with more than 21 charges laid. Two suspects remain at large, including Panesar and Prasath Paramalingam, who failed to appear in court.

Another accused, Durante King Mclean, faces charges in Canada and has pleaded guilty to firearms offences in the United States.

Police warning and next steps

Peel Regional Police have urged the remaining suspects to seek legal advice and surrender. Emphasising the cross border scope of the investigation, Peel Police Chief Nishan Duraiappah said, “No matter where you run or hide, we will find you.”

Canadian authorities say the extradition request underscores their commitment to pursuing suspects beyond national borders. The case now places the spotlight on judicial cooperation between India and Canada, as New Delhi considers whether to hand over the prime accused in a crime that has become a major test of international law enforcement coordination.

Investigators say Project 24K remains active, with further arrests possible as they continue efforts to recover the stolen gold and dismantle the wider network behind the theft.