Project 24K: Additional Arrest Made in $20 Million Gold Heist
Region of Peel – Peel Regional Police have arrested and charged an individual in connection with Project 24K, an investigation into the theft of more than $20 million in gold bars, the largest gold heist in Canadian history.
On Monday, Jan. 12, investigators arrested and charged Arsalan Chaudhary, a 43-year-old man of no fixed address, at Toronto Pearson International Airport as he flew in from Dubai, United Arab Emirates. Chaudhary is charged with the following:
- Theft Over $5000
- Possession of Property Obtained by Crime X2
- Conspiracy to Commit Indictable Offence
He was held for a bail hearing and attended the Ontario Court of Justice in Brampton.
On April 17, 2023, a flight arriving at Toronto Pearson International Airport from Zurich, Switzerland, carried a cargo shipment containing approximately 400 kilograms of .9999-pure gold – equivalent to 6,600 bars and valued at more than $20 million – along with $2.5 million in foreign currency. The shipment was offloaded and transported to a separate location on airport property, but was reported missing to Peel Regional Police the following day.
A complex, cross-border investigation was immediately launched, involving collaboration with the Philadelphia Field Division of the Bureau of Alcohol, Tobacco, Firearms and Explosives. To date, Peel Regional Police have identified and charged, or issued warrants for, nine individuals in connection with the theft, laying more than 21 charges.
Two individuals remain outstanding:
- Simran Preet Panesar, a 33-year-old man from Brampton. A Canada-wide arrest warrant has been issued Panesar, a former Air Canada employee, who is believed to be in India. He is wanted on charges of Theft Over $5,000 and Conspiracy to Commit an Indictable Offence.
- Prasath Paramalingam, a 36-year-old man from Brampton, is the subject of a bench warrant after failing to appear in court on Aug. 19, 2024.
Investigators urge these individuals to seek legal counsel and turn themselves into the police.
In addition, a warrant has been issued for Durante King-Mclean, a 27-year-old man from Brampton, on charges of Theft Over $5,000 and Possession of Property Obtained by Crime. King-Mclean has recently pleaded guilty to firearms trafficking-related charges in the United States and is expected to be sentenced later this year. Investigators remain in contact with him and his legal counsel.
Anyone with information related to this investigation is asked to contact the Financial Crime Unit at 905-453-3311, ext. 3305. Information may also be left anonymously by calling Peel Crime Stoppers at 1-800-222-TIPS (8477) or visiting www.peelcrimestoppers.ca.
QUICK FACTS
- Project 24K is an investigation into the largest gold heist in Canadian history — over $20 million in gold bars stolen from Toronto Pearson Airport in April 2023.
- To date, 9 individuals have been charged or are wanted, with more than 21 charges laid.
- Two individuals remain outstanding.
QUOTE
“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. Let it be known: no matter where you try to run or hide, we will find you.”
- Chief Nishan Duraiappah, Peel Regional Police
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MEDIA CONTACT
Media Relations Officer
Email: media.relations@peelpolice.ca
Phone: 905-453-2121, ext. 4027
N/R: 24-099.3
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