The gold heist dates back to April 2023 and saw 6,600 gold bars weighing 400 kg of pure gold and about $2.5 million worth of various foreign currencies stolen from Pearson International Airport’s cargo compound, shortly after arriving on a flight from Zurich.

Preet is leading a normal life, helping his wife’s and family’s business affairs, while Canadian authorities are looking for him and waiting for him to turn himself in.

The Indian Express met Panesar at his residence, but he declined to speak “on record”, citing “legal reasons”. One of his neighbours said they learnt that “Preet Panesar was involved in some monetary dispute in Canada, but were told that it was over”.

Preet, who was living in Brampton, Ontario, at the time of the heist, was the one who even “led police on a tour of the cargo facility before the police suspected his alleged involvement”. Soon after, he moved out of Canada, leaving the investigating officials clueless on his whereabouts and came to India.

The suspected vehicle was used during the heist. (Photo Credit: Peel Regional Police )

There were reports in June 2024 – via statements of his lawyers – that he would turn himself in, but it did not happen.

Queries were sent to Preet in India and his lawyer in Canada. Preet declined to comment citing “his family’s safety and legal reasons”, while his lawyer did not respond to the queries sent by The Indian Express.

The Peel Regional Police continues to conduct an investigation into the gold heist, titled Project 24Karat.

The documents related to Peel Regional Police’s investigation so far revealed that over a period of one year, 20 officers from the organisation worked full time on this investigation. “The tasks included surveillance, interviewing, investor and affiant. Video canvass tracing the truck’s journey in which the gold bars were allegedly transported out of the cargo terminal of the Pearson International Airport, Toronto lasted four weeks and spanned over 28 kilometres and three different jurisdictions,” the documents state. These include police briefing transcripts and minutes of police board meetings.

The documents reveal that “the officers worked 28,096 hours and 9500 overtime hours to investigate this case”. The investigation is still “ongoing”.

Currently, there are a total of nine suspects including Panesar allegedly involved in this case. Parampal Sidhu was another employee who was working at Air Canada at the time of the heist. The Peel Regional Police believe that “both worked together and facilitated the heist” because they were the “insiders”.

While a warrant in the first instance has been issued for Durante King-Mclean, the driver of the truck, Canada-wide warrants have been issued for Arsalan Chaudhary, and Archit Grover. (Photo Credit: Peel Regional Police )

Another suspect, Archit Grover, was the last one to be arrested in this case in May-2024, when he turned himself in and landed at the Pearson International Airport. “Archit Grover flew into the Pearson Airport. We were in touch with his lawyer and we had information that he was flying in. We arrested him. He was held for a bail hearing”, the Peel Regional Police’s documents reveal.

About Panesar, the Peel Regional Police’s officers are “in touch with his lawyer” and “are trying to facilitate his surrender, as well”.

Another suspect, Arsalan Chaudhary from Mississauga, Ontario, who the Canadian authorities believe is in Dubai, is also “wanted under the Canada-wide warrant”.

(L-R) Amit Jalota was arrested for possessing property obtained by crime, among other offences, while Parampal Sidhu was taken into custody for theft and conspiracy to commit indictable offence. (Photo Credit: Peel Regional Police )

The Peel Police Services Board meeting’s documents reveal the relationship between the suspects and their alleged role in the heist.

“Parampal Sidhu and Preet Panesar worked at Air Canada and facilitated the theft to take place. A Canadian national, Durante King-McLean, was the driver of the truck in which the gold was allegedly transported out of the Pearson International Airport. Archit Grover is a long-time friend of Parampal and employer of King-McLean. Grover also owned the trucking company that owned the truck used in the theft. Amit Jalota is Archit Grover’s cousin and his associate Arsalan Chaudhary looked after the stolen gold. Jalota facilitated melting of the gold through Ali Raza. Ammad Chaudhary, Prasath Parmalingam and Arsalan Chaudhary assisted King Mc-Lean in crossing the border and helped him stay in the United States of America for a long time”, the Peel Regional Police Board meeting documents reveal.

(L-R) Prasath Paramalingam, Ali Raza, and Ammad Chaudhary have been taken into police custody. (Photo Credit: Peel Regional Police )

The police examined more than 40 electronic devices to establish the link among the suspects and their alleged roles.

The investigating officials believe that “a significant portion of the gold left for foreign markets very soon after the heist, and a large portion was believed to have gone overseas – Dubai or India”.

So far, police have recovered $430,000 in cash, six pure gold bracelets worth above $89,000 believed to be from the stolen gold melted, as well as smelting pots, casts and moulds used to melt the stolen gold.

In September, 2023, Pennsylvania State troopers pulled over a vehicle and allegedly found 65 firearms that the US Department of Justice said were “destined for Canada”. The man driving the vehicle was identified as Durante King-McLean. He was found to be “illegal in the US” at that time. He was taken into custody.