Canadian authorities have made another arrest in Project 24K, the high-profile investigation into the theft of more than $20 million worth of gold bars, described as the largest gold heist in Canada’s history.
Peel Regional Police confirmed that Arsalan Chaudhary, 43, was arrested on Monday at Toronto Pearson International Airport after arriving on a flight from Dubai, United Arab Emirates. Police said Chaudhary has “no fixed address.”
He has been charged with theft over $5,000, possession of property obtained by crime, and conspiracy to commit an indictable offence.
How The $20 Million Gold Disappeared
The case dates back to April 17, 2023, when a flight from Zurich, Switzerland, landed at Toronto Pearson International Airport carrying a valuable cargo shipment. The consignment included approximately 400 kilograms of .9999-pure gold — roughly 6,600 gold bars — valued at more than $20 million, along with $2.5 million in foreign currency.
After landing, the shipment was offloaded and moved to a holding area elsewhere on airport property. Within hours, it was reported missing, triggering a major criminal investigation.
Cross-Border Probe and Multiple Arrests
Peel Regional Police launched a cross-border investigation, eventually identifying ten suspects connected to the theft. Several have since been arrested, while warrants remain outstanding for others.
One of the key accused is Simran Preet Panesar, a 33-year-old former Air Canada employee from Brampton. Investigators allege that Panesar used his access to airline systems to identify and divert the gold shipment.
Authorities believe Panesar is currently in India. He was traced last year to a rented flat on the outskirts of Chandigarh, and a Canada-wide arrest warrant has been issued against him.
Other Accused in the Case
Another suspect, Archit Grover, was arrested at Toronto Pearson Airport in May 2024 upon his arrival from India.
Those already taken into custody also include Parmpal Sidhu (54) and Amit Jalota (40), both residents of Ontario. Ammad Chaudhary (43), Ali Raza (37), and Prasath Paramalingam (36) have also been arrested in connection with the case.
Meanwhile, Durante King-Mclean, a 27-year-old man from Brampton, is currently being held in the United States on firearms trafficking-related charges.
Police Vow Accountability
Commenting on the progress of the investigation, Peel Regional Police Chief Nishan Duraiappah praised the efforts of law enforcement agencies involved.
“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,” Duraiappah said.
“Let it be known: no matter where you try to run or hide, we will find you.”
