A Canada-wide warrant remains against former Air Canada employee Simran Preet Panesar in case of the gold theft, who is believed to have fled to India; extradition efforts are reportedly underway.
BY PC Bureau
New Delhi, January 13, 2026 — Canadian authorities have arrested another suspect in what is being described as the largest gold theft in the country’s history, as Peel Regional Police announced a fresh breakthrough in the investigation into the 2023 heist of more than $20 million worth of gold from Toronto Pearson International Airport.
The arrest is part of Project 24K, a long-running, multi-agency probe that continues to span several countries, even as one key accused remains on the run in India.
On January 12, 2026, Arsalan Chaudhary (43), who has no fixed address, was taken into custody at Toronto Pearson Airport after arriving on a flight from Dubai, United Arab Emirates. Police said the arrest marks a significant development in the complex cross-border investigation.
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Chaudhary has been charged with theft over $5,000, two counts of 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 shortly after his arrest.
Peel Regional Police Chief Nishan Duraiappah described the arrest as evidence of sustained investigative effort. “Project 24K demonstrates how Peel Regional Police, working with national and international partners, can disrupt sophisticated criminal networks and hold those responsible accountable,” he said, adding that suspects would be pursued regardless of where they attempt to flee.
The audacious theft occurred on April 17, 2023, when a cargo shipment arrived at Pearson Airport from Zurich, Switzerland. The consignment included roughly 400 kilograms of .9999-pure gold—about 6,600 bars—valued at over $20 million, along with approximately $2.5 million in foreign currency.
One More Down ! 2 More to go ☆
Mastermind of Biggest Pearson Gold Heist Of $20M+ arrested at Pearson. Great Job #PRP @PeelPolice https://t.co/2xIF3NxhRq
Great Inestigation by @cbcfifth https://t.co/bS2E0ZY44x pic.twitter.com/WzfaZ51E7U
— Nitin Chopra (@chopsnitin) January 12, 2026
Although the valuables were transferred to a secure cargo facility within the airport, they disappeared within hours. Investigators believe the theft was an inside job, involving manipulation of airline cargo systems and forged documentation to divert the shipment, which was then loaded onto a truck and driven away.
Authorities have so far identified 10 individuals allegedly linked to the heist and have laid more than 21 charges. Several arrests have been made, including former Air Canada employee Parmpal Sidhu (54), Amit Jalota (40), Prasath Paramalingam (36), Ali Raza (37), Ammad Chaudhary (43), and Archit Grover, who was arrested at Pearson Airport in May 2024 upon returning from India. Durante King-Mclean (27) was arrested in the United States in 2023 on related firearms trafficking charges.
Investigators believe the stolen gold was swiftly moved overseas—most likely to India or Dubai—and melted down, making it virtually untraceable. Recoveries to date include less than $100,000 worth of melted gold, some cash, luxury vehicles, high-end watches, and firearms.
Still outstanding is a Canada-wide arrest warrant for Simran Preet Panesar (33), a former Air Canada employee from Brampton. Police allege Panesar played a central role by exploiting his access to airline systems to identify the high-value shipment and facilitate its diversion. He resigned from Air Canada in mid-2023 and is believed to have fled to India.
Indian authorities, including the Enforcement Directorate (ED), questioned Panesar in February 2025 after media reports traced him to a rented residence near Chandigarh, including areas of Mohali, Punjab. While an extradition request has reportedly been submitted, Panesar remains at large.
The sophistication of the operation—combining insider access, international logistics, and rapid disposal of stolen assets—has drawn comparisons with major global heists. The investigation has involved cooperation with agencies such as the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), highlighting the growing challenge of tackling organised transnational crime.
Project 24K has reportedly cost Peel Regional Police millions of dollars in resources. With another suspect now in custody, Canadian authorities say efforts to apprehend Panesar and any remaining accomplices will continue.
