Peel Regional Police have indicated that a significant amount of the stolen gold from Toronto Pearson Airport in April 2023 may have been smuggled to Dubai or India. The theft involved 6,600 gold bars worth $20 million and approximately $2.5 million in various foreign currencies taken from an Air Canada storage facility at the airport. It is believed that most of the stolen gold was sent overseas, with a small portion melted down in a jewelry shop in Toronto.
According to Detective-Sergeant Mike Mavity, a large portion of the stolen gold is likely now in Dubai or India, where it can be melted down despite having serial numbers. The stolen goods, originating from a refinery in Zurich, Switzerland, arrived in Toronto on April 17, 2023, and were stored at an Air Canada cargo facility. The theft was discovered after the cargo was loaded onto a truck using fake documents and driven away.
Despite efforts to track the truck through surveillance footage, it disappeared in a rural area of Milton, Ontario. Only a small amount of the stolen gold has been recovered so far. Nineteen charges have been laid or warrants issued for nine individuals involved in the heist, including the truck driver, Durante King-Mclean. Two former Air Canada employees, Parmpal Sidhu and Simran Preet Panesar, are also facing charges.
Some of the suspects have been released on bail, with Det.-Sgt. Mavity explaining that holding them could jeopardize the prosecution. The investigation has involved significant resources, with over 20 officers dedicating thousands of hours to the case. The Peel Police Service Board has expressed disappointment over the release of suspects and highlighted the costs associated with the ongoing investigation.
The police have also emphasized the connection between the gold heist and firearms trafficking, underscoring the broader implications of such crimes beyond just the theft of valuable goods.
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