By admin 
In a major breakthrough, the Enforcement Directorate (ED), India’s premier financial crime investigation agency, raided the residence of 32-year-old Simranpreet Panesar on Friday. Panesar, a former Air Canada manager, is wanted across Canada for his alleged role in the April 2023 gold heist at Toronto Pearson International Airport—the largest gold robbery in the country’s history.
An ED team arrived early Friday morning at Panesar’s home in Sector 79, Mohali, Punjab, to intensify the ongoing probe. “Our teams are currently questioning him,” a senior ED official stated.
The ED’s involvement in the case stems from potential money-laundering links, as investigators seek to determine whether the stolen gold or its proceeds were funneled to India. Sources indicate that officials are meticulously tracking the financial trail, looking for any connections to Indian markets.
Background: The $22.5 Million Heist
The high-profile gold heist occurred on April 17, 2023, when thieves used forged documents to steal an air cargo container carrying 400 kg of pure .9999 gold bars and foreign currency. The cargo, valued at over 20 million Canadian dollars (CAD) in gold and an additional 2.5 million CAD in cash, had arrived from Zurich, Switzerland, on an Air Canada flight. It was en route to a Toronto bank when it disappeared from a secure airport storage facility.
Authorities revealed that after being offloaded from the flight, the shipment was moved to another location within the airport before vanishing. The theft was discovered only a day later, prompting an investigation by Peel Regional Police (PRP), who labeled it as “Canada’s biggest gold heist ever.”
Charges and Arrest Warrants
In April 2024, Canadian authorities charged nine individuals, including Simranpreet Panesar, and issued arrest warrants for him and another suspect, Parampal Sidhu. Both Panesar and Sidhu, Brampton residents, were employed at Toronto Pearson’s warehouse facility.
Despite an extensive investigation, the majority of the stolen gold remains missing. Authorities have only recovered 90,000 CAD of the missing shipment, leaving the fate of 400 kg of gold still unknown.
ED’s Expanding Investigation
The Enforcement Directorate’s involvement marks a critical turning point in the case, as Indian authorities focus on tracking potential financial transactions linked to the heist. The cross-border probe could uncover hidden assets or expose larger smuggling networks connected to the stolen gold.
This latest development not only emphasizes the global scale of the crime but also highlights India’s expanding role in financial crime investigations. With authorities closing in on the suspects, the world now watches to see if the missing millions in gold and cash will ever be recovered.
Gill Bikram Singh