Peel Regional Police have arrested a man in connection with Project 24K, the investigation into Canada’s largest gold heist, in which more than $20 million in gold bars was stolen from Toronto Pearson International Airport.
On Monday, 43-year-old Arsalan Chaudhary, who has no fixed address, was taken into custody at Pearson Airport as he arrived from Dubai, United Arab Emirates. He faces multiple charges, including theft over $5,000, possession of property obtained by crime, and conspiracy to commit an indictable offence.
The heist occurred on April 17, 2023, when a flight from Zurich, Switzerland, carried a cargo shipment containing around 400 kilograms of .9999-pure gold—approximately 6,600 bars—worth over $20 million, along with $2.5 million in foreign currency. The shipment was offloaded and moved to a separate location on airport property but was reported missing to Peel Regional Police the following day.
The investigation quickly became a complex, cross-border operation, with Peel police working alongside the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives in Philadelphia. So far, 10 individuals have been charged or have warrants issued against them, with over 21 charges laid.
Two suspects remain at large: 33-year-old Simran Preet Panesar of Brampton, believed to be in India, for whom a Canada-wide arrest warrant and extradition request have been issued; and 36-year-old Prasath Paramalingam of Brampton, who failed to appear in court in August 2024. Investigators urge them to seek legal counsel and surrender to authorities.
Additionally, a warrant has been issued for 27-year-old Durante King-Mclean of Brampton, charged with theft over $5,000 and possession of property obtained by crime. King-Mclean recently pleaded guilty to U.S. firearms trafficking-related charges and is due for sentencing later this year.
Peel Police Chief Nishan Duraiappah praised the team’s work, saying: “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.”
Chaudhary was held for a bail hearing and appeared in the Ontario Court of Justice in Brampton.
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