Canadian authorities have made a breakthrough in the investigation into the largest gold theft in the country’s history with the arrest of a key suspect at Toronto Pearson International Airport. The arrest marks a significant step forward in Project 24K, the high-profile probe into the disappearance of gold and cash worth more than $20 million from the airport in 2023.
Police detained 43-year-old Arsalan Chaudhary after he arrived in Toronto on a flight from Dubai. Investigators believe he played a crucial role in the planning and execution of the crime, which stunned the country and exposed serious vulnerabilities in airport cargo security.
How the $20 Million Gold Heist Was Carried Out in Canada?
The heist took place on April 17, 2023, when a cargo flight from Zurich landed at Toronto Pearson Airport. The aircraft carried a high-value shipment that included around 400 kilograms of gold and approximately $2.5 million in foreign currency.
Investigators say the cargo was fraudulently released using forged paperwork and removed from a secure airport facility. The shipment vanished before it could be delivered to its intended destination. Police later revealed that the operation involved two coordinated groups: insiders who allegedly facilitated access and an external team that transported and disposed of the stolen assets.
Authorities believe much of the gold was quickly moved out of Canada, possibly melted down and sold overseas, making recovery extremely difficult.
Who is Arsalan Chaudhary, and What Are the Charges?
Peel Regional Police charged Arsalan Chaudhary with theft over $5,000, two counts of possession of property obtained by crime, and conspiracy to commit an indictable offence. Authorities say he was part of the group that handled the stolen gold after it was removed from the airport.
Chaudhary remains in custody and is scheduled to appear for a bail hearing later this week. Police describe him as one of the most actively involved suspects in the case.
Canada Heist: One Accused in India?
So far, 10 individuals have been charged or are being sought in connection with the heist, with more than 21 charges laid. Seven suspects were arrested earlier in the investigation.
One of the most prominent accused still at large is Simran Preet Panesar, a former Air Canada employee believed to be in India. Canadian authorities have already issued an extradition request and are awaiting a response.
Police are also searching for Prasath Paramalingam, a Brampton resident who failed to appear in court and is now the subject of a bench warrant. Investigators say the search for both suspects remains active.
Canada Heist: Why This Case Is So Significant?
Law enforcement officials have repeatedly described the crime as “the largest gold heist in Canadian history.” The scale, planning, and international reach of the operation have made it one of the most complex theft cases ever handled by Canadian police.
During searches linked to the investigation, officers seized cash, luxury vehicles, mobile phones, SIM cards, and handwritten documents allegedly detailing the movement and distribution of millions of dollars.
Canada Heist: What Police Say Comes Next
Peel Regional Police say the latest arrest shows the power of international cooperation in tackling organised crime. Investigators have stressed that suspects cannot escape justice simply by crossing borders.
The investigation remains ongoing, with authorities focused on tracking the remaining accused, strengthening extradition efforts, and uncovering what ultimately happened to the stolen gold.
As the hunt continues, the case stands as a stark reminder of how a meticulously planned crime turned into one of Canada’s most infamous thefts — and how police are determined to close every remaining chapter.
