Air Canada Sued By Brinks Over $20 Million Gold Heist

Brink’s is suing Air Canada for nearly $20 million over an alleged theft of gold bars and cash. The theft took place at Toronto’s Pearson airport, where the airline is alleged to have allowed an unidentified individual to abscond with the cargo.

Court documents reveal that on April 14th, Brink’s was hired by two Swiss banks, Raiffeisen and Valcambi, to transport over 400 kilograms of gold and about $1,945,843 in U.S. cash from Zurich to Toronto. At the time, the gold was valued at roughly 13.2 million Swiss francs, translating to nearly $20 million Canadian based on current exchange rates.

Upon arriving safely at Pearson airport on April 17, the shipments, labeled BANKNOTES and GOLDBARS, were unloaded and stored in an Air Canada facility. An unnamed individual allegedly managed to enter the storage facilities without any security interference. Armed with a fraudulent waybill that mimicked details of a separate cargo shipment, this individual was able to dupe Air Canada personnel into releasing the cargo.

Brink’s laments that Air Canada accepted the waybill without any authentication checks. Post this breach, the unidentified person promptly vanished. As of now, both the gold and the cash remain missing, with no arrests made.

Brink’s claims that Air Canada was “negligent and careless” and even “reckless” in its handling of the cargo. They stress that despite paying premium rates for a secure service, there were evident lapses in security protocols.

READ: Air Canada Grounds Pilot Who Posted “F*ck You Israel, Burn In Hell”

Brink’s is not only seeking reimbursement for the value of the stolen items but also an undisclosed sum in “special damages” and legal costs. They reached out to Air Canada in late April for redress but haven’t received any communication.

Air Canada, Vancouver Bullion and Currency Exchange (the intended cash recipient), and TD Bank (the designated gold recipient) have all refrained from commenting on the matter.


Information for this story was found via CBC News and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

One Response

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Augusta Gold Reports 880,000 Ounces Of Gold In Maiden Resource Estimate At Bullfrog

Augusta Gold Corp. (TSX: G) today released the results of its maiden mineral resource estimate...

Wednesday, July 14, 2021, 10:52:00 AM

Japan Gold Looks To Raise $15.0 Million In Private Placement

Japan Gold (TSXV: JG) this morning announced that it will be conducting a private placement....

Friday, June 25, 2021, 08:02:54 AM

Is The Exploits Subzone The New Abitibi? – The Daily Dive feat Michael Collins

For the final episode of The Daily Dive for the trading week, we sit down...

Friday, April 30, 2021, 01:30:00 PM

SKRR Exploration Releases Final Results From Olson Drill Program

SKRR Exploration (TSXV: SKRR) this morning released the final drill results from the Fall 2020...

Thursday, March 25, 2021, 09:22:41 AM

Yamana Gold Closes Acquisition Of Monarch Gold

Last night, Monarch Gold (TSX: MQR) formally announced the completion of the proposed transaction with...

Friday, January 22, 2021, 07:24:58 AM