Gold from Canada's biggest heist might have been smuggled to India and Dubai, according to Canadian police.
advertisementCanadian police also clarified that only a small amount of gold was melted down in a jewellery store in Mississauga in Canada.
Detectives have clarified that only a small amount of the gold was melted down in a Mississauga jewellery store, contradicting earlier suggestions that all the stolen gold had been melted down there.
We never meant to imply that 400 kilograms of gold were melted down by hand in a small jeweller's shop.
Ali Raza, the owner of a Mississauga jewellery store, is accused of facilitating the melting of a small quantity of gold.
Gold from Canada's biggest heist might have been smuggled to India and Dubai, according to Canadian police. Gold worth over $20 million was stolen from Pearson International Airport in Toronto last year. The gold and cash consignment from Switzerland was stolen from the airport in an operation fit for a Netflix series. Three Indian-origin men are among the accused arrested over the heist.
advertisement
Canadian police also clarified that only a small amount of gold was melted down in a jewellery store in Mississauga in Canada. Police said they were still searching for the missing gold and any profits from its sale.
The stolen cargo, which originated from Zurich, Switzerland, consisted of 6,600 bars of pure gold, weighing 400 kilograms.
"We believe a large portion has gone overseas to markets that are flush with gold," Lead investigator Detective Sergeant Mike Mavity stated during a meeting of the Peel Police Service Board, reported CBC News.
"That would be Dubai, or India, where you can take gold with serial numbers on it, and they will still honour it and melt it down. And we believe that happened very shortly after the incident," he added.
Peel Police Chief Nishan Duraiappah described the case as "a sensational one and one which, probably, we jokingly say, belongs in a Netflix series".
SMALL QUANTITY OF GOLD MELTED IN MISSISSAUGA
The heist, dubbed "Project 24 Karat", which occurred in April 2023, involved a man using a duplicate waybill to gain access to an Air Canada Cargo terminal and steal a pallet of gold bars worth approximately $20 million.
"The new Police Service Board briefing, delivered on a summer Friday with no media present, highlighted several lingering questions about the heist, including the force's assertions that the robbery was a case of "reverse alchemy" where gold became guns, as evidenced by the seizure of 65 pistols," according to CBC News.
Detectives have clarified that only a small amount of the gold was melted down in a Mississauga jewellery store, contradicting earlier suggestions that all the stolen gold had been melted down there.
"We believe only a very small amount was melted at that jewellery shop. We never meant to imply that 400 kilograms of gold were melted down by hand in a small jeweller's shop. That wasn't the message we were trying to convey," Detective Gord Oakes was quoted as saying by CBC News.
The police are still searching for the missing gold and any profits from its sale, with their next steps including analysing over 40 electronic devices seized from suspects and obtaining financial records from banks.
Investigators convened a prominent media briefing to announce the arrest of nine men linked to the case, with efforts underway to locate three additional suspects.
NEW DETAILS ABOUT THE SUSPECTS' CONNECTIONS IN THE HEIST
Investigators arrested and charged Archit Grover at Pearson International Airport upon his arrival from India. He has been accused of theft over $5,000 and conspiracy to commit an indictable offence. Peel Police describe Grover as a longtime friend of Parmpal Sidhu, who also worked at the cargo terminal and faces similar charges.
Grover owned the truck used in the heist and employed Durante King-McLean, who allegedly drove the truck and is also facing theft charges.
Additionally, Grover’s cousin, Amit Jalota, has been charged with possession of stolen property, theft, and conspiracy. He reportedly handled the gold alongside Arsalan Chaudhary, who faces similar charges.
Ali Raza, the owner of a Mississauga jewellery store, is accused of facilitating the melting of a small quantity of gold.
Prasath Paramalingam and Ammad Chaudhary, who face accessory charges, allegedly assisted King-McLean in crossing into the US and provided support to him there.
The investigation, dubbed "Project 24 Karat", has cost $5.3 million so far, with an estimated final cost of $10 million.
advertisement
The 20 officers involved have logged 28,000 regular hours and 9,500 overtime hours.
Indian-origin people have been arrested in the case.
Published By: Girish Kumar Anshul Published On: Jul 8, 2024
