New Delhi | The investigation into Canada’s largest gold theft has entered a critical international phase, with the trail now firmly leading to India. In the 2023 case involving the disappearance of nearly 400 kg of gold from a Canadian international airport, authorities in Ottawa have formally sought India’s cooperation after confirming that the alleged mastermind, Simran Preet Panesar, is hiding on Indian soil. Diplomatic and enforcement-level communication between the two countries has intensified as Canada pushes for his extradition.
Canadian investigators say the theft was not a spur-of-the-moment crime but a meticulously planned operation executed over several months. According to official findings, a network of around 10 individuals worked in coordination to pull off the heist, most of them reportedly of Indian origin. The probe, codenamed Project 24K, is being treated as one of the most complex organised crime cases in Canada’s history.
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Entire shipment vanished before reaching destination
Investigators revealed that the consignment—comprising nearly 6,600 gold bars—never reached its designated delivery point after landing at the airport. Instead, the cargo was diverted mid-route and disappeared without triggering immediate security alarms. Initial confusion over how such a high-value shipment could vanish from a heavily secured facility led to a deeper technical audit of the airport’s cargo-handling systems.
That audit later revealed evidence of system-level manipulation, allowing the shipment to be rerouted without raising red flags. Authorities say this technical interference was central to the success of the theft.
Inside knowledge key to the operation
Panesar is accused of exploiting his position as an employee associated with a major airline at the time of the incident. Investigators say he had detailed knowledge of airport logistics, cargo movement protocols and internal access points. Using this insider familiarity, shipment data was allegedly altered, enabling the gold to be diverted undetected.
Officials believe such a breach would have been impossible without someone deeply familiar with the airport’s internal processes. Panesar is therefore described as the “core link” connecting planning, execution and post-theft logistics.
Accused being picked up one by one
Several individuals linked to the case have already been arrested in Canada over the past year. Most recently, Arslan Chaudhary, a wanted suspect, was detained at Toronto airport, a development that provided investigators with fresh leads. Interrogation of arrested accused has repeatedly pointed to Panesar as the principal coordinator behind the operation.
Canadian police maintain that while multiple operatives were involved, the planning and system manipulation traced back consistently to Panesar.
Last traced location: Chandigarh
According to Indian enforcement sources, Panesar was last seen in February 2025 in Chandigarh, where he had been staying in a rented accommodation. He reportedly fled shortly after sensing increased investigative activity. Agencies believe he may still be hiding in the Chandigarh–Mohali–Punjab region, moving frequently to avoid detection.
Searches conducted at suspected locations yielded documents, digital records and financial material now being analysed by investigators.
Money laundering angle under scanner
India’s Enforcement Directorate (ED) has also initiated scrutiny into the case, focusing on potential money laundering links. Sources indicate suspicion that proceeds from the gold theft were routed into India through hawala channels. The funds were allegedly invested in entertainment and music-related ventures to project them as legitimate earnings.
Financial trails involving multiple bank accounts and shell-linked transactions are currently under examination.
Wife and business entities under probe
Panesar’s wife, identified as a Punjabi singer and actor, has also come under the scanner. Investigators suspect that investments in music albums and production ventures may have been used to absorb illicit funds. Several companies associated with the couple are being examined for irregular funding patterns and unexplained capital inflows.
Authorities stress that the investigation remains evidence-driven and that financial records will determine the extent of involvement, if any.
Extradition process now crucial
The future course of the case now hinges on how swiftly the extradition process progresses between India and Canada. Canadian agencies believe Panesar’s arrest and transfer would be key to unraveling the complete conspiracy behind the unprecedented gold heist. Officials say his questioning could expose broader transnational organised crime networks operating across borders.
For now, international attention remains fixed on whether the man at the centre of Canada’s biggest gold theft can finally be brought to face trial.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
