Peel Regional Police say they have made another arrest in connection with what investigators have described as the largest gold heist in Canadian history.
Police said a 43-year-old man was arrested Monday at Toronto Pearson International Airport after arriving on a flight from Dubai, United Arab Emirates, as part of Project 24K — an investigation into the theft of more than $20 million in gold bars.
Peel Regional Police said Arsalan Chaudhary, who has no fixed address, faces charges of theft over $5,000, two counts of possession of property obtained by crime and conspiracy to commit an indictable offence.
Investigators said Chaudhary was held for a bail hearing and appeared in the Ontario Court of Justice in Brampton.
The charges stem from a theft reported in April 2023, when a cargo shipment arriving at Pearson from Zurich, Switzerland, went missing. Police said the shipment contained roughly 400 kilograms of .9999-pure gold — about 6,600 bars valued at more than $20 million — along with $2.5 million in foreign currency.
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According to police, the shipment was offloaded from the aircraft and transported to another location on airport property before it was reported missing the following day, prompting a wide-ranging investigation.
Peel police said the probe has involved cross-border cooperation, including assistance from the Bureau of Alcohol, Tobacco, Firearms and Explosives in the United States.
Investigators say 10 people have now been charged or are the subject of warrants in connection with the case, with more than 21 charges laid.
Two suspects remain outstanding. Police said Simran Preet Panesar, a 33-year-old former Air Canada employee from Brampton, is wanted on Canada-wide warrants for theft over $5,000 and conspiracy. An extradition request has been submitted, and he is believed to be in India.
A bench warrant has also been issued for Prasath Paramalingam, a 36-year-old man from Brampton, after he failed to appear in court in August 2024.
Police said a separate warrant remains in place for Durante King-Mclean, a 27-year-old from Brampton, on charges including theft over $5,000 and possession of property obtained by crime. Investigators said King-Mclean has pleaded guilty to firearms-trafficking related charges in the United States and is expected to be sentenced later this year.
In a statement, Peel Regional Police Chief Nishan Duraiappah said the investigation highlights the force’s ability to pursue complex, high-value crimes across borders.
Police are asking anyone with information about the investigation to contact their financial crime unit or Peel Crime Stoppers.
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