Synopsis
The Enforcement Directorate has conducted raids in Chandigarh and Mohali related to a suspect involved in Canada's largest gold heist, surpassing $20 million. The investigation focuses on the suspect's possible connections to the stolen gold, which was taken from the Toronto Pearson Airport in April 2023.Key Takeaways
- ED raids in Chandigarh and Mohali.
- Suspect linked to a $20 million gold heist.
- Former Air Canada warehouse manager.
- Investigation into money laundering.
- Gold stolen from Toronto Pearson Airport.
Chandigarh, Feb 21 (NationPress) The Enforcement Directorate conducted searches on Friday at residential properties in Chandigarh and Mohali, Punjab, targeting a suspected individual involved in Canada’s largest gold heist, valued at over $20 million in 2023, utilizing counterfeit documents, according to officials.
The suspect, Simran Preet Panesar, previously a warehouse manager at Air Canada, was residing in Sector 38 of Chandigarh and Sector 79 of Mohali.
He is wanted across Canada for his alleged involvement in the theft that occurred at the Toronto Pearson International Airport.
Raids were executed simultaneously at both of Panesar’s residences.
Reports indicate that an air cargo container filled with gold bars was pilfered from a storage facility at the airport.
The Enforcement Directorate, India’s primary agency for investigating financial crimes, initiated a money-laundering inquiry due to the suspect's residence in India.
Sources indicate that the investigation aims to determine if the stolen gold or its proceeds were funneled into the country.
The heist occurred on April 17, 2023, employing fabricated documentation.
In April 2024, Canada's Peel Regional Police (PRP) labeled it the most significant gold heist in the nation’s history, charging 10 individuals, including Panesar, and issuing an arrest warrant against him. Panesar and another suspect, Parampal Sidhu, were living in Brampton and employed at the Pearson warehouse.
Authorities in Canada have yet to recover the stolen gold, with only 90,000 CAD reportedly retrieved from the heist.
Last November, Peel police issued a bench warrant for the arrest of a suspect involved in the case.
Prasath Paramalingam, 35, was apprehended for allegedly aiding Durante King-McLean, the individual accused of absconding with nearly $20 million worth of stolen gold bars.
According to police, a total of 6,600 gold bars were taken from the Air Canada cargo facility on April 17, 2023, by a suspect who arrived at the warehouse in a five-ton delivery truck. The gold, along with approximately $2.5 million in foreign currency, had been transported to Toronto from Zurich on an Air Canada flight.
