In the three years since the largest gold robbery in Canadian criminal history, Canadian law enforcement has made significant progress in locating the primary suspect. The police department made another suspect's arrest and are now close to their last suspect, Simran Preet Panesar, located several thousand miles away in Chandigarh, India.
Preet Panesar, who is 32 years old and a former manager for Air Canada, is being sought for his alleged role in the largest gold theft in Canadian history, valued at over $20 million.
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Whereabouts known since 2025
According to The Indian Express, the Canadian authorities were aware of Simran Preet Panesar's location since February 2025, when he was discovered living with his family in Chandigarh. Subsequently, on February 21, the Enforcement Directorate (ED) conducted a raid on Panesar's residence in Mohali and questioned him. Additionally, a case was opened against him under the Prevention of Money Laundering Act (PMLA).
Canada has now made a formal request to India for the extradition of Panesar, after Peel Police arrested the latest suspect in the ongoing investigation, Arsalan Chaudhary, at the Toronto Pearson International Airport on January 12.
How did the heist take place?
On April 17, 2023, a flight arrived at Pearson International Airport (Toronto, Canada) after arriving from Zurich, Switzerland. The plane's cargo included 6,600 individual bars of pure gold (.9999% gold content), weighing a total of 400 kg each.
Upon arrival, the cargo was removed from the aircraft and driven to a new location on the airport's property. On April 18, one day later, the Peel Regional Police announced that the cargo was missing.
In response to the missing cargo, the Peel Regional Police (Canada) have launced a "complex, multi-jurisdictional investigation" in conjunction with the Bureau of Alcohol, Tobacco, Firearms and Explosives, Philadelphia Field Division (US).
The Peel Regional Police (Canada) have characterised this incident as the largest gold heist ever to occur within Canada and have charged nine individuals, including Simran Preet Panesar. Till date, the investigation has resulted in the arrest of seven individuals.
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Panesar's involvement
Simran Preet Panesar and co-accused Parampal Sidhu and lived in Brampton, working at Toronto Pearson's warehouse. Canadian police believe that Panesar may have tracked the gold-carrying flight and possibly had access to the warehouse where it was stored before stealing it.
The police also indicated that Panesar showed them the warehouse where he worked when they were conducting their investigation into the crime. Sidhu was arrested in May 2024.
Panesar fled to India after the robbery, but he was discovered living in a small town outside of Chandigarh in 2025. He is married to Preety Panesar, who is a former Miss India Uganda and a singer and actress.
Where did the 400-kg gold go?
Detective Sergeant Mike Mavity, who is the lead investigator for the Peel Regional Police, stated that gold that was taken during the crime might have been shipped overseas to other countries like India and Dubai and that it is unlikely that police will be able to get it back.
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"That would be Dubai, or India, where you can take gold with serial numbers on it and they will still honour it and melt it down…and we believe that happened very shortly after the incident," according to a report by CBC News.
The ED officials have alleged that Panesar transferred proceeds from the gold heist to India through an illicit channel called hawala.
According to the ED, the money was said to have passed through several different pathways, including the music industry. A majority of the money was said to have been used for the production of a film starring Panesar's wife, Preety. According to a report by the Indian Express, which cited the ED, Panesar has reportedly received more than Rs 8.5 crore in illegitimate funds via hawala.
