New arrest in Project 24K

Peel Regional Police (PRP) have arrested a 43-year-old man in connection with the largest gold theft in Canadian history and charged him upon arrival at Toronto Pearson International Airport after he flew in from Dubai.

The arrest is the latest development in Project 24K, an investigation into the April 2023 theft of more than $20 million in gold bars and $2.5 million in foreign currency from a cargo facility at Pearson.

The suspect, Arsalan Chaudhary, who has no fixed address, was taken into custody on Jan. 12 upon disembarking an international flight, police confirmed on Monday.

Chaudhary is charged with theft over $5,000, two counts of possession of property obtained by crime, and conspiracy to commit an indictable offence. He was held for a bail hearing.

Arsalan Chaudhary. Photo: Peel Regional Police.

The original theft occurred on April 17, 2023, when a flight from Zurich, Switzerland, arrived at Pearson carrying approximately 400 kilograms of .9999-pure gold, equivalent to 6,600 bars, along with a large quantity of foreign cash. The shipment was offloaded and moved to a separate location on airport property, but was reported missing the next day.

To date, police have laid more than 21 charges and identified 10 individuals believed to be involved in the theft. Several suspects have ties to Air Canada and international firearms trafficking.

Two individuals remain outstanding. Simran Preet Panesar, 33, of Brampton, a former Air Canada employee, is believed to be in India. A Canada-wide warrant has been issued, and an extradition request has been submitted. He is wanted for theft over $5,000 and conspiracy to commit an indictable offence.

Prasath Paramalingam, 36, also of Brampton, is the subject of a bench warrant after failing to appear in court in August 2024.

Police have also issued a warrant for Durante King-Mclean, 27, of Brampton, who is currently in the U.S. and has pleaded guilty to firearms trafficking charges. He is wanted in Canada for theft over $5,000 and possession of property obtained by crime. Investigators say they remain in contact with King-Mclean and his legal counsel.

Police say the investigation remains active and are asking anyone with information to contact them.