ED Raids Mohali Residence of Suspect in $20 Million Canada Gold Heist
The Enforcement Directorate (ED) today conducted a raid at the Sector 79 residence of Simran Preet Panesar, one of the nine suspects in the $20 million gold heist at Toronto Pearson International Airport in April 2023.
ED officials arrived at Panesar's house around 7 AM to initiate the investigation. The agency has registered an Enforcement Case Information Report (ECIR) under the Prevention of Money Laundering Act (PMLA) in connection with the case.
In April 2024, the Peel Regional Police (PRP) in Canada booked nine individuals, including Panesar, a former Air Canada supervisor, and issued an arrest warrant against him. Panesar and his co-accused, Parampal Sidhu, who lived in Brampton, were both employed at the airport’s warehouse facility and are suspected to have played a role in the theft.
The heist involved the disappearance of 6,600 gold bars, weighing approximately 400 kg, along with foreign currency worth 2.5 million Canadian dollars (CAD). The theft occurred on April 17, 2023.
Investigators in Canada suspect that Panesar had tracked the flight carrying the gold and had access to the airport's storage facility. Reports suggest that during the initial investigation, he even provided a tour of the facility to Canadian authorities. However, Panesar reportedly left Canada three months after the theft.
The ED’s raid is part of an ongoing probe into potential money laundering and illicit financial transactions related to the case. The investigation continues as authorities attempt to trace the missing gold and funds.
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