Chandigarh (National Times): The Enforcement Directorate (ED) raided the residence of Simran Preet Panesar, a former Air Canada manager, who is wanted in connection with Canada’s biggest gold heist at Toronto Pearson International Airport in April 2023. Panesar, who is facing a Canada-wide arrest warrant, was also questioned by ED officials at his home in Sector 79, Mohali, Punjab.
ED Investigates Money Laundering Angle
The ED, which probes financial crimes, has taken up the case to determine whether the stolen gold or its proceeds have entered India. A senior official confirmed, “Our teams are currently questioning him.”
Previously, reports indicated that Panesar had been residing on the outskirts of Chandigarh after fleeing Canada.
Inside the Toronto Pearson Gold Heist
On April 17, 2023, thieves forged documents to steal a cargo container filled with gold bars and cash from a high-security storage facility at Toronto Pearson International Airport. The stolen shipment included:
- 400 kg of pure gold (6,600 bars), valued at over 20 million Canadian dollars (CAD).
- 2.5 million CAD in foreign currency.
The shipment had arrived in Toronto from Zurich, Switzerland, via Air Canada, intended for delivery to a Toronto-based bank. However, after being offloaded, it was diverted to another location within the airport, only to be reported missing the next day.
Investigation and Arrest Warrants
In April 2024, the Peel Regional Police (PRP), investigating the case, arrested nine individuals, including Simran Preet Panesar, and issued an arrest warrant against him and Parampal Sidhu, another suspect. Both Panesar and Sidhu had worked at Toronto Pearson’s warehouse facility and lived in Brampton, Canada.
So far, Canadian authorities have been unable to recover the stolen gold, except for 90,000 CAD retrieved by the PRP.
With Panesar now in India, the ED is closely examining financial transactions to trace any links between the stolen gold and potential money laundering operations in India. The probe is ongoing.
