The Canadian authorities have announced a significant breakthrough in the investigation of the country's largest gold heist, which occurred in April 2023. The case, known as 'Project 24 Carat', involved the theft of 6,600 gold bars, valued at an astonishing $15 million. On January 12, 2026, a pivotal moment unfolded as the police apprehended one of the key suspects, Arsalan Chaudhary, upon his arrival at Toronto's Pearson International Airport from Dubai. Chaudhary faces charges of theft exceeding $5,000, possession of crime-derived property, and conspiracy to commit a serious offense. This arrest marks a crucial step in the ongoing investigation, which has been challenging due to the extensive network of suspects involved.
The Peel investigators believe that Chaudhary played a pivotal role in facilitating the movement of the stolen gold. The precious metal, estimated to be worth millions, remains unrecovered and is presumed to have been melted and sold to various buyers. The investigation has revealed that the theft was an inside job, and a former Air Canada employee is still at large, believed to have been a critical participant. In 2024, a significant development occurred when police seized $312,000 in cash, suspected proceeds from the sale of the gold, along with smelting equipment, indicating the suspects' intent to alter the gold's composition. The stolen gold and foreign currency were sourced from a Zurich refinery and transported on an Air Canada flight to Toronto, where they were swiftly transferred to a cargo facility.
The heist's execution was meticulous. A suspect arrived at the facility in a five-ton truck, presenting a fraudulent airway bill to a cargo warehouse attendant and successfully receiving the shipment. The bill was a duplicate of a previous day's bill used for a seafood shipment. The container, containing the gold and foreign currency, was loaded onto the truck and driven away. The theft was only discovered later that night when Brink’s Canada employees arrived to collect the container. This case highlights the complexity of gold heists, involving inside knowledge, sophisticated logistics, and the potential for significant financial gains, leaving a trail of intrigue and mystery in its wake.
