Fugitive Arsalan Chaudhary arrested at scene of crime in Canada’s biggest gold heist case

The theft took place on April 17, 2023, when an Air Canada flight from Zurich landed at Pearson carrying 400 kg of .9999-pure gold, amounting to about 6,600 bars, along with $2.5 million in foreign currency. (file)

In a dramatic turn in Canada’s biggest gold heist investigation, the Peel Regional Police Monday arrested fugitive Arsalan Chaudhary, 43, at Toronto Pearson International Airport, moments after he arrived on a flight from Dubai. The arrest is the latest breakthrough in Project 24K, the ongoing probe into the April 2023 theft of more than $20 million in gold bars from Pearson Airport.

Chaudhary, listed as having no fixed address and previously residing in Mississauga, 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 was held in custody for a bail hearing at the Ontario Court of Justice in Brampton.

The theft was reported the following day, setting off a wide-ranging investigation involving Peel Regional Police and the United States Bureau of Alcohol, Tobacco, Firearms and Explosives.

So far, ten people have been charged or are the subject of warrants, with more than 21 charges laid. Investigators say much of the stolen gold was melted down at a makeshift forge inside a Brampton jewellery store and recast into bangles and bracelets for resale. Some of the proceeds were allegedly used to fund illegal firearms smuggling from the United States into Canada.

Three suspects remain at large or are under active warrants. They include Simran Preet Panesar, 33, a former Air Canada employee from Brampton, whom police believe was the key insider who allegedly manipulated internal systems to divert the shipment. Panesar is believed to be in India and extradition proceedings are underway.

Also wanted are Prasath Paramalingam, 36, of Brampton, who is facing a bench warrant after failing to appear in court, and Durante King-Mclean, 27, also of Brampton, who is alleged to have driven the getaway truck. King-Mclean has pleaded guilty in the United States to firearms trafficking linked to the heist proceeds and is awaiting sentencing there.

Peel Regional Police chief Nishan Duraiappah praised the investigation, saying it reflected the force’s ability to tackle complex, high-stakes crime in coordination with national and international partners. “Let it be known, no matter where you try to run or hide, we will find you,” he said.

The irony of Chaudhary’s arrest at the same airport where the gold was stolen has not been lost on the investigators. The police are urging the remaining suspects to surrender and are asking the public to provide any information to the Financial Crime Unit or Peel Crime Stoppers.