Investigators suspect that the stolen gold from Toronto Pearson International Airport in 2023 has likely been smuggled, sold, and melted down overseas.
During a Peel Police board meeting in June, officials provided an update on the case, revealing that while some of the stolen gold was melted in a local jewelry shop, the bulk of it was sent abroad.
Detective-Sergeant Mike Mavity stated, “We believe that a large portion has gone overseas to markets that are flushed with gold, that would be Dubai or India, where you can take gold with serial numbers on it and they will still honour it and melt it down. That is our belief, and we believe that happened very shortly after the [heist].”
Details of the Heist
On the evening of April 17, 2023, a suspect stole 6,600 gold bars and $2.5 million in foreign currency from Air Canada’s cargo facility. The thief arrived in a five-tonne delivery truck and made off with the valuables, leaving authorities scrambling to recover the stolen goods.
Expensive Investigation
The investigation into the gold heist has been a costly endeavor for Peel Regional Police. With over 28,000 hours of investigative work and 9,500 hours of overtime logged, the total cost has surpassed $5 million. This figure is expected to rise significantly as the investigation progresses, potentially reaching $10 million in total expenses.
Suspects Involved in Illegal Firearms Investigation
In addition to their involvement in the gold heist, several suspects have also been linked to illegal firearms activities. Five individuals were arrested in connection to the heist, with warrants issued for others. It was revealed in a meeting that some suspects were part of firearms trafficking, resulting in the seizure of 65 illegal firearms related to the investigation.
The ongoing investigation demonstrates the complexity of criminal activities and the interconnected nature of crimes involving valuable commodities like gold and firearms.
With files from CP24’s Codi Wilson
Investigators suspect that the stolen gold from Toronto Pearson International Airport in 2023 has likely been smuggled, sold, and melted down overseas.
During a Peel Police board meeting in June, officials provided an update on the case, revealing that while some of the stolen gold was melted in a local jewelry shop, the bulk of it was sent abroad.
Detective-Sergeant Mike Mavity stated, “We believe that a large portion has gone overseas to markets that are flushed with gold, that would be Dubai or India, where you can take gold with serial numbers on it and they will still honour it and melt it down. That is our belief, and we believe that happened very shortly after the [heist].”
Details of the Heist
On the evening of April 17, 2023, a suspect stole 6,600 gold bars and $2.5 million in foreign currency from Air Canada’s cargo facility. The thief arrived in a five-tonne delivery truck and made off with the valuables, leaving authorities scrambling to recover the stolen goods.
Expensive Investigation
The investigation into the gold heist has been a costly endeavor for Peel Regional Police. With over 28,000 hours of investigative work and 9,500 hours of overtime logged, the total cost has surpassed $5 million. This figure is expected to rise significantly as the investigation progresses, potentially reaching $10 million in total expenses.
Suspects Involved in Illegal Firearms Investigation
In addition to their involvement in the gold heist, several suspects have also been linked to illegal firearms activities. Five individuals were arrested in connection to the heist, with warrants issued for others. It was revealed in a meeting that some suspects were part of firearms trafficking, resulting in the seizure of 65 illegal firearms related to the investigation.
The ongoing investigation demonstrates the complexity of criminal activities and the interconnected nature of crimes involving valuable commodities like gold and firearms.
With files from CP24’s Codi Wilson
