Simran Preet Panesar, the former Air Canada manager accused of playing a key role in the largest gold heist in Canadian history, has been found living on the outskirts of Chandigarh, India. An&nbsp;<a href="https://www.youtube.com/watch?v=WEEuhNCthyI">investigation</a>&nbsp;has revealed that Panesar has been staying in a rented home with his wife, Preety Panesar, a former Miss India Uganda, singer, and actor. While his legal team claims he is preparing to return to Canada voluntarily, no formal surrender has occurred yet.
The heist, which took place on April 17, 2023, saw over CAD 22 million (approx. ₹1,343,474,000 at the time) worth of gold and cash vanish from Toronto Pearson International Airport in a meticulously planned operation. The crime sent shockwaves through law enforcement agencies, financial institutions, and the aviation industry. More than a year later, the case continues to unfold with new revelations.
The Heist: How It Happened
On April 17, 2023, a shipment containing 6,600 gold bars weighing approximately 400kg, alongside CAD 2.7 million in foreign currency, arrived in Toronto from Zurich, Switzerland. The valuable cargo was transported to an Air Canada storage facility, where it was to be held securely. However, within hours, it was gone. 
Authorities later determined that the theft was carried out using fraudulent paperwork that allowed the perpetrators to remove the gold without raising immediate suspicion. The investigation, led by Peel Regional Police and the Royal Canadian Mounted Police (RCMP), revealed that the heist was the work of a well-organized criminal network with inside knowledge of airport operations.
The Investigation and Early Arrests
The investigation gained traction in early 2024, leading to multiple arrests, including individuals with ties to Air Canada. Authorities executed 37 search warrants across Ontario and Quebec, uncovering smelting pots, casts, and molds used to reshape the stolen gold. In addition, police recovered approximately $430,000 in cash and six pure gold bracelets worth around $89,000&mdash;only a fraction of the stolen loot.
Among those charged were former and current Air Canada employees, signalling that the crime may have been facilitated by individuals familiar with security loopholes at Pearson Airport. However, the central figure in the case, Simran Preet Panesar, remained at large.
&nbsp;Who is Simran Preet Panesar?
A 32-year-old former Air Canada manager, Panesar left his job in mid-2023 and disappeared soon after. He was formally charged in April 2024 with theft over CAD 5,000 and conspiracy to commit an indictable offense. Authorities believe he played a crucial role in orchestrating the movement of the stolen gold and facilitating its disappearance from the airport facility.
The Manhunt and His Life in India
For months, Panesar's whereabouts were unknown. However, an investigation by <a href="https://indianexpress.com/article/express-exclusive/biggest-gold-heist-canada-living-chandigarh-outskirts-9836602/?ref=hometop_hp" target="_blank" rel="noopener">The Indian Express</a> and CBC News: The Fifth Estate in early 2025 revealed that he had been living in a rented home on the outskirts of Chandigarh, India. Accompanied by his wife, Preety Panesar, he maintained a low profile, avoiding public scrutiny while his legal team worked on his defense.
Panesar&rsquo;s lawyer, Greg Lafontaine, issued a statement saying that his client was "very confident in the Canadian justice system" and was preparing to return voluntarily to Canada. However, no formal surrender has occurred to date.
What Happens Next?
The case against Panesar and his alleged co-conspirators remains active, with Canadian law enforcement pressing for his extradition. If he does return, he will face a high-profile trial that could shed light on the sophisticated planning behind the heist and the fate of the missing gold.
Meanwhile, authorities continue to search for the remaining stolen assets. While a small portion of the loot has been recovered, the majority remains unaccounted for, leading to speculation that it may have been melted down and sold through illicit channels.
The Toronto Pearson gold heist stands as one of the most audacious thefts in Canadian history. With an ongoing international manhunt, legal battles, and a missing fortune, the case remains far from over. Whether Panesar's return will bring closure or further twists remains to be seen. For now, law enforcement agencies continue their relentless pursuit, determined to solve a crime that has captivated the nation and the world.

The case could well be the basis of a true-crime graphic novel

Simran Preet Panesar, accused in the $22M Pearson Airport gold theft, found in Chandigarh

Canada’s Biggest Gold Heist: Fugitive Found in India

Simran Preet Panesar, accused in the $22M Pearson Airport gold theft, found in Chandigarh

February 15, 2025 | 17:43 IST