Key Ringleader in Pearson Airport Gold Heist Pleads Guilty, But Where's the Money?
One of the central masterminds behind the brazen $22.5-million gold heist at Toronto's Pearson International Airport three years ago has admitted his role in the crime, yet the vast majority of the stolen valuables remain missing. Arsalan Chaudhary, 44, pleaded guilty to theft over $5,000 in a Brampton court this week, acknowledging his involvement in orchestrating what is believed to be Canada's largest gold theft in history.
Sophisticated Heist Details Unveiled
According to an agreed statement of facts, Chaudhary was a key organizer in the April 17, 2023, theft from an Air Canada cargo facility. He communicated with Air Canada employees to identify a shipment containing 400 kg of 99.99% pure gold and mixed foreign currency, valued at $22.5 million. Chaudhary helped arrange for a driver to pick up the cargo using a fake airway bill and transport it in a tractor-trailer.
The driver arrived at the warehouse on Britannia Rd. E. at 6:30 p.m., and with Chaudhary driving in tandem, the load was taken to Acton, where Chaudhary took possession of some gold. The remainder was delivered to a Mississauga jeweller to be melted down, as Chaudhary knew it couldn't be sold in its original form. In messages, he noted the "heat" after the theft delayed the melting process, but by June 9, 2023, the gold had been sold.
Distribution of Proceeds and Debt List
Chaudhary was responsible for distributing the $10 million in proceeds from the sale. A search of his Enfield Place home in September 2023 uncovered $154,000 in cash and a handwritten "debt list" allocating $10.03 million. The list included entries such as "5 M; them, 1.9 M; Pak, 1 M; boss, 200 K; parents, 23 K; watch." Notably, only $23,000 was earmarked for his parents, raising questions about whether the first $5 million was intended for himself.
After the heist, Chaudhary assisted the driver, who fled the country, by paying $25,000 for his lawyer after the driver was arrested on U.S. charges, ensuring his silence. Chaudhary himself left for Dubai in December 2023, citing work as a courier, but voluntarily returned and surrendered to authorities on January 12, 2026, following an arrest warrant.
Legal Proceedings and Sentencing
In court, Crown attorney Jelena Vlacic described the crime as highly organized, capturing public imagination due to its complexity. The Crown is seeking a seven-year sentence for Chaudhary, considering his guilty plea and surrender, though the judge noted this seems high given the maximum penalty is 10 years. Chaudhary's lawyer, Harval Bassi, argued for a four-year sentence, claiming the heist was a crime of opportunity rather than sophistication, facilitated by a fake waybill.
Chaudhary, born in Pakistan and moved to Canada as a teenager, dropped out of school, worked as a dump truck driver, and had a failed restaurant venture during the COVID-19 pandemic. He has a minor criminal record from 2018.
Ongoing Investigation and Missing Gold
The investigation, dubbed "Project 24 Karat," has led to multiple arrests, including Air Canada employee Parmpal Sidhu and others, but several suspects remain at large. Peel Regional Police have outstanding warrants for Simran Preet Panesar, believed to have fled to India, and Prasath Paramalingam, who has vanished after being released on bail. The alleged driver, Durante King-Mclean, was arrested in Pennsylvania in September 2023 with 65 guns in his car, allegedly en route to Canada.
Virtually none of the stolen gold has been recovered, and the prosecutor plans to seek a 10-year restitution order for $22 million. Chaudhary is scheduled for sentencing in April, facing not only prison time but also significant financial repercussions.
