One year after a brazen gold heist at Toronto’s Pearson International Airport, Peel Regional Police have arrested nine people, including several current and former Air Canada employees, in connection with the $20 million theft.
The joint investigation between Canadian and US authorities, dubbed “Project 24K,” resulted in the arrests of Parmpal Sidhu, Amit Jalota, Ammad Chaudhary, Ali Raza, and Prasath Paramalingam. However, all of them have been released on conditions.
Canada-wide warrants have been issued for three other suspects: Simran Preet Panesar, Arsalan Chaudhary, and Archit Grover.
The alleged mastermind of the heist, 25-year-old Durante King-Mclean, and Paramalingam, 34, have also been indicted in the US for a conspiracy to engage in international firearms trafficking. King-Mclean was arrested after a traffic stop in Pennsylvania revealed he had entered the country illegally and was found in possession of 65 firearms, including two fully automatic machine guns.
Authorities say the gold, weighing 400 kilograms and valued at over $20 million, was stolen from an Air Canada warehouse just hours after a flight from Zurich landed at Pearson on April 18, 2023. Peel Police have recovered approximately $430,000 in Canadian currency believed to be proceeds from the sale of the stolen gold, as well as smelting pots used to fashion the gold into jewelry.
Flashback: Air Canada Sued By Brinks Over $20 Million Gold Heist
“This story is a sensational one and one which probably, we jokingly say, belongs in a Netflix series,” said Peel Police Chief Nishan Duraiappah. Deputy Chief Nick Milinovich called it the largest gold heist in Canadian history and the sixth-largest in world crime history.
Information for this story was found via City News, and the sources and companies 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.
Gold Rush 2020: The Excitement Has Begun
The images are burned in many of our imaginations. The Klondike. The California Gold Rush....