One of the key suspects in Canada's largest gold theft has been taken into custody after a dramatic surrender at Toronto's Pearson International Airport. Arsalan Chaudhary, a 42-year-old from Mississauga, was arrested by Peel Regional Police on Monday, January 12, 2026, after he arrived on a flight from Dubai, United Arab Emirates.
Suspect Returns to Face Charges
Chaudhary had agreed to surrender to authorities and boarded the flight knowing he would be arrested upon arrival. He was first detained by a Canada Border Services Agency officer before being formally charged and taken into custody by Peel detectives. With his hands cuffed behind his back, he was escorted from the international arrivals area to a waiting police vehicle, attempting to cover his face with his hoodie during the walk.
The accused faces multiple charges, including theft over $5,000, two counts of possession of property obtained by crime, and conspiracy to commit an indictable offence. He remained silent when asked about the whereabouts of the stolen gold or his reasons for ending his time as a fugitive.
The Historic $40 Million Heist
This arrest marks the seventh in connection with the brazen 2023 heist, which is now believed to have involved more than $40 million in gold and cash. Initially valued at $20 million, the estimated value of the stolen goods has steadily increased during the investigation. The theft involved over 600 gold bars, weighing nearly 400 kilograms, that had been flown into Pearson from Switzerland.
The gold was intended for transfer at an Air Canada cargo facility but was instead loaded onto a truck using fraudulent paperwork that falsely identified the shipment as seafood. This sophisticated operation is considered the largest gold theft in Canadian history and ranks among the top six such heists globally.
Ongoing Manhunt and Previous Arrests
Despite Chaudhary's arrest, Peel Regional Police continue to search for other individuals connected to the crime, which they have dubbed Project 24K. A Canada-wide warrant remains active for Simran Preet Panesar, a 33-year-old former Air Canada employee from Brampton who is believed to have fled to India. Authorities have initiated extradition proceedings to bring him back to Canada.
Other suspects are also being sought. A bench warrant has been issued for Prasath Paramalingam, 36, of Brampton, who was released on bail in April 2024 but failed to appear for his court date in August 2024. Another warrant exists for Durante King-Mclean, 27, also of Brampton, who is currently in custody in the United States after pleading guilty to firearms trafficking charges and faces up to 15 years in an American prison.
Previously arrested individuals include Air Canada employee Parmpal Sidhu, 54, of Brampton; Amit Jalota, 40, of Oakville; Ammad Chaudhary, 43, of Georgetown; and Ali Raza, 37, of Toronto. All charges remain unproven in court.
Police have recovered only a small fraction of the stolen gold, meaning the vast majority of the record-breaking haul remains missing. The investigation continues as authorities work to unravel the full network behind one of the most audacious crimes in Canadian history.
