Canadian authorities are investigating a major $20 million gold heist from Toronto's Pearson Airport in April 2023. The investigation, "Project 24K," has led to over 19 charges against 10 individuals, including a recent arrest in January 2026.
Canadian authorities have made a significant breakthrough in the investigation of one of the country’s most audacious thefts -- the $20 million gold heist from a cargo facility at Toronto Pearson International Airport in April 2023, known as Project 24K.
On January 12, 2026, Peel Regional Police arrested 43-year-old Arsalan Chaudhary at Toronto Pearson Airport upon his arrival from Dubai, charging him with “theft over $5,000, possession of property obtained by crime and conspiracy to commit an indictable offence.”
The heist in question unfolded on April 17, 2023, when a flight from Zurich, Switzerland, landed at Pearson carrying a cargo shipment that included approximately 400 kilograms of .9999-pure gold -- equivalent to about 6,600 gold bars valued at more than $20 million -- along with $2.5 million in foreign currency. The container was offloaded and transferred to a holding facility on airport property, but was reported missing to authorities the next day after its disappearance.
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Investigators quickly launched a cross-border effort, dubbed Project 24K, involving the Peel Regional Police and international partners. To date, authorities have laid more than 19 criminal charges and identified 10 individuals believed to be involved in the carefully planned operation. Police Chief Nishan Duraiappah described the network as a “well-organized group of criminals from both inside and outside of airport facilities.”
The investigation revealed that insider access played a critical role in the theft. Among those suspected is 33-year-old Simran Preet Panesar, a former Air Canada employee who is believed to have used his knowledge of airline cargo systems to help locate and reroute the valuable shipment. Panesar is currently believed to be in India, and Canadian authorities have issued a nationwide arrest warrant and submitted an extradition request for his return to Canada to face charges of theft and conspiracy.
Police documented that most of the stolen gold was likely moved overseas shortly after the theft, possibly to India or Dubai, and may have been melted down, making it difficult to trace. Through Project 24K, authorities have recovered some cash, luxury vehicles, high-end watches and firearms, but the bulk of the gold remains missing.
Additional suspects in the case include individuals already arrested in previous years; some were apprehended while flying into Pearson from India. Others remain under warrant or are believed to be abroad. Among the outstanding individuals are Prasath Paramalingam, for whom a bench warrant has been issued, and Durante King-McLean, who has pleaded guilty to firearms-related charges in the United States but also faces Canadian theft charges.
Police emphasize that the investigation remains active, urging anyone with information to come forward. “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,” said PRP Chief Nishan Duraiappah, stressing that suspects will be pursued “no matter where you try to run or hide.”
The case has not only highlighted the scale of the audacious theft but also prompted scrutiny of cargo security and cross-border cooperation between law enforcement agencies as they seek to bring all suspects to justice.
