Six crudely made bracelets worth $89,000 were the only things found after a $20 million gold inside job heist at Pearson Airport.
Canada’s largest gold and cash theft of more than $22 million was an inside job involving two former Air Canada employees, Peel Regional Police say.
Nine men, from the GTA, have been arrested and warrants were issued for four of them relating to the April 17, 2023 theft of 6,600 gold bars, worth $20 million, and $2.5 million in cash.
Only one gold bar, worth about $90,000 was recovered, along with $434,000 in cash by police in Project 24 Carat.
Five ton truck with driver after backing up to an Air Canada loading dock where 6,600 bars of gold and $2 million were loaded on.
Peel police in a press conference on April 17 said the gold was melted down by the thieves. They seized items for melting the gold and four crude bracelets of almost pure gold that led to the arrests.
Peel Police Chief Nishan Duraiappah said one of the suspects arrested was a former Air Canada manager and another a warehouse worker.
“They (organized crime) exploited people who held certain positions at the airport,” the Chief said. “We are working closely with national and international law enforcement partners to arrest those responsible.”
Some of 65 firearms found by U.S. agents in a rental car driven by gold truck theft driver. Photos courtesy of Peel Regional Police.
Police showed a five-ton truck that they claimed the thieves backed up to a loading dock of an Air Canada warehouse hours after the shipment had arrived from Zurich, Switzerland.
The thieves presented a legitimate waybill printed at an Air Canada facility that was for a shipment of fish that arrived a day before. The document was altered to present to authorities to obtain the gold, which was loaded into the vehicle.
A special team of 17 detectives was assembled in a task force to investigate the case. The officers collected security video from more than 200 businesses and homes, and conducted dozens of interviews, as they tracked the gold-filled truck through the streets of Mississauga.
Peel Police allege the inside gold heist, the largest in Canada, involved two former Air Canada employees including this manager, who gave police a tour of the warehouse.
Officers in Project 24 Carat say a lot of work has to be done to find the rest of the gold.
The gang was rounded up following the arrest of the truck driver by U.S. Alcohol Tobacco, Firearms and Explosives agents in Philadelphia who was pulled over a rental vehicle for a traffic infraction.
The driver of the vehicle was also the driver of the gold truck in Mississauga. A search of the rental car turned up 65 firearms, destined for Canada.
“Firearms trafficking presents a grave threat to public safety,” said ATF Special Agent Eric J. DeGree, of the Philadelphia Field Division. “Law enforcement cooperation with our U.S. and international partners is key to seeking justice and preventing crimes that extend beyond our borders.”
This former Air Canada warehouse worker was allegedly involved in the planning of the inside job. Four of the GTA men arrested are believed to have fled the country.
Police had flagged the driver’s name on a law enforcement computer system that showed his involvement in the Pearson gold heist.
Among those arrested were former Air Canada manager Parmpal Sidhu, 54, who is at large; warehouse worker Simran Preet Panesar, 31; and Durante King-McLean, 25, the suspected driver.
The suspects were charged with theft over $5,000 and possession of property obtained from crime. They were released on bail conditions and will appear at the Ontario Court of Justice in Brampton at a later date.
Canada-wide warrants have been issued for four suspects, who are believed to have fled the country.