Gold Heist? US$15 Million Worth of ‘High-Value’ Cargo Stolen at Pearson Airport

An aircraft shipping container carrying US$15 million worth of precious cargo has gone missing at the Pearson Airport in Toronto on Monday evening.

Peel Regional Police Inspector Stephen Duivesteyn said at a news conference that the aircraft carrying the cargo arrived at the airport in the early evening and the container was unloaded and then transported to a cargo holding facility “as per normal procedure.” 

The police are investigating how the shipping container vanished after it was offloaded. All Duivesteyn was able to say was that the container, which he described as being square, in the five to six foot range, was somehow removed from the facility “by illegal means.”

As of Friday, the police still have yet to identify suspects. The Toronto Sun reports that according to a source, police believe that the thieves had inside help.

Duivestyn did not provide more details, including how much gold was inside the shipping container and what other precious cargo it contained, but he did say that the cargo is estimated to be worth just a little north of CA$20 million or around US$14.8 million.

“What I can say is that the container [had] a high-value shipment. It did contain gold but was not exclusive to gold and contained other items of monetary value,” he said. He also did not reveal details about the cargo, but Toronto Sun reports that it was part of an intra-bank shipment between TD and a still unidentified bank. They said the aircraft belonged to Air Canada.

Neither TD nor Air Canada has issued a statement. Air Canada directed the Sun’s request for comment to the Peel Regional Police.

Pearson Airport is a major cargo airport and handles 45% of Canada’s air cargo traffic. The airport has three main cargo facilities, with more than 240 truck loading doors and 1.2 million square feet of warehouse space. 

This incident is one of Canada’s biggest heists.

Pearson’s reputation as a cargo airport has been tainted by a heist before when gold worth $215,000 to $330,000 at the time (and about CA$3 million today) vanished in 1952.

Information for this story was found via Toronto Sun, the Guardian, NBC 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.