Saturday, 06 July 2024 07:53

Gold stolen from Toronto airport likely in Asia

gold heist - Toronto gold heist - Toronto fot: pixabay

In April 2023, an audacious theft at Toronto Pearson Airport saw 400 kilograms of gold, worth millions, stolen right under the noses of airport security. This gold heist, one of the largest in Canadian history, has triggered an international investigation that now suggests the stolen gold has likely been smuggled out of Canada to destinations in the Middle East or South Asia.

Police confirm gold's likely overseas journey

Nearly 15 months after the heist, the Peel Regional Police, led by Detective Sergeant Mike Mavity, have acknowledged that a significant portion of the stolen gold likely made its way to Dubai or India - regions known for their robust gold markets. Det. Sgt. Mavity explained, "We believe a large portion has gone overseas to markets that are flush with gold," highlighting the ease with which gold can be absorbed and melted down in these regions, despite the presence of serial numbers.

Investigation complexities and connections

As the investigation unfolded, it was revealed how the thieves, using a duplicated waybill for a seafood shipment, infiltrated an Air Canada Cargo terminal and executed the theft with shocking simplicity. The case took a significant turn on the first anniversary of the heist when police announced the arrest of nine men and the search for three others. Despite these developments, the whereabouts of the gold remained largely unknown until recent briefings hinted at its probable overseas journey.

Det. Gord Oakes provided new insights into the minimal local melting of the gold, correcting earlier assumptions about the scale of local processing. "We believe a very small quantity was melted at that jewellery shop," he clarified, addressing misconceptions about the amount of gold processed domestically.

Theft implications and ongoing efforts

The investigators have now sketched links between the suspects, revealing a network involving individuals like Archit Grover, Parmpal Sidhu, and others, who played various roles from facilitating the theft to attempting to dispose of the gold. The briefing also highlighted the ongoing investigative efforts, which include examining electronic devices and financial records, in an attempt to track the remaining gold and any financial gains from its sale.

Financial and critical reflections

The investigation, dubbed 'Project 24 Karat,' has already cost $5.3 million, with estimates suggesting it could reach $10 million due to extensive manpower and resources. Critiques of the police's approach and the publicity of their efforts have been voiced by figures like Toronto criminal defense lawyer Jeff Hershberg, who expressed skepticism about the narrative and the alleged link between the stolen gold and cross - border gun trafficking.

An unresolved mystery with international ramifications

As the Peel Regional Police continue to piece together the events and associations related to the heist, the international aspect of the stolen gold adds a layer of complexity to an already intricate case. With significant financial implications and a tangled web of suspects spanning continents, the resolution of the Toronto airport gold heist remains uncertain, keeping the intrigue and mystery at a peak.

Source: CBC.CA


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