In April 2023, Toronto’s Pearson International Airport became the scene of what is believed to be one of the largest and most valuable gold heists in history. Over CA$ 20,000,000 worth of gold, in the form of 6,600 serialized bars, disappeared under mysterious circumstances.
Investigators from the Peel Police Service suspect that a significant portion of the stolen gold, totaling over 6,500 bars, has been smuggled overseas to markets known for their robust gold trade, such as Dubai and India.
Detective Sergeant Mike Mavity, speaking at a recent meeting of the Peel Police Service Board, indicated that the stolen gold likely had its serial numbers removed and was melted down shortly after the theft. This process makes it difficult to trace and recover the stolen bars.
The investigation has identified several suspects, including a jewelry store owner, a former Air Canada manager, and a warehouse employee, leading to the arrest of nine individuals so far.
The heist was orchestrated using falsified paperwork, specifically a fabricated seafood pick-up order, which granted access to the Air Canada warehouse where the gold was stored. Authorities suspect that a small amount of the gold was melted down immediately after the theft in a jewelry store basement in Mississauga, though only CA$90,000 of the stolen gold has been recovered to date.
In addition to the theft itself, the investigation has uncovered potential connections between the stolen gold and cross-border gun trafficking. Law enforcement agencies have seized numerous firearms during the course of their investigation, including fully automatic weapons and untraceable firearms.
While these discoveries hint at illicit activities possibly linked to the gold heist, concrete evidence connecting the two has not yet been presented.
The case remains ongoing as authorities continue to piece together the details of how the elaborate heist was planned and executed and work towards recovering the remaining stolen gold and establishing any broader criminal connections.