CHANDIGARH: The Enforcement Directorate (ED) searched the residence of 32-year-old Simran Preet Panesar, who is wanted by Canadian authorities for his alleged role in the country’s biggest gold heist, worth over 20 million Canadian dollars (Rs 122 crore).
He is one of nine suspects in the gold heist that took place at the Toronto Pearson International Airport in April 2023.
ED officials raided Simran Preet Panesar’s rented apartment in Sector 79, Mohali, Punjab, where he was living with his family, including his wife, Preety Panesar, a former Miss India Uganda, as well as a singer and actor.
The ED team arrived at his residence around 7 am and began the investigation after registering a case against him under Section 2(1)(ra) of the Prevention of Money Laundering Act (PMLA).
This legislation deals with cases of cross-border implications and mentions - “Any conduct by a person at a place outside India which constitutes an offence at that place and which would have constituted an offence specified in Part A, Part B or Part C of the Schedule, had it been committed in India and if such person [transfers in any manner] the proceeds of such conduct or part thereof to India.”
In April 2023, Peel Regional Police (PRP) booked nine people, including former Air Canada supervisor Simran Preet Panesar, and issued an arrest warrant against him.
Panesar and co-accused Parampal Sidhu, who were living in Brampton at the time, worked at Toronto Pearson Airport’s warehouse facility and are suspected of involvement in the theft of cargo containing 6,600 bars of .9999 pure gold, weighing 400 kg.
Around 20 million Canadian dollars (CAD), along with foreign currency worth 2.5 million CAD, arrived at Toronto Pearson Airport on an Air Canada flight from Zurich, Switzerland. It was destined for a bank in the city but went missing on 17 April 2023. Panesar reportedly left Canada three months after the theft.
Canadian police suspect that Panesar tracked the flight carrying gold until its arrival and had access to the storage facility. He is also reported to have given police a tour of the facility during the investigation. Meanwhile, Sidhu was arrested in May 2024.
In total, Canadian police have arrested six people for their alleged involvement in the theft. A Canada-wide warrant has been issued for Panesar.