Peel Regional Police have arrested a key suspect in Canada's largest-ever gold theft, pulling off a dramatic takedown at Toronto's Pearson International Airport. The bust marks a major step forward in "Project 24K," the ongoing probe into the 2023 heist that saw thieves make off with over $20 million CAD in gold bars and cash.

The crime unfolded on April 17, 2023, when insiders used forged documents to divert a Zurich-bound cargo shipment containing 400 kilograms of .9999 pure gold—around 6,600 bars—plus $2.5 million in cash from a secure airport holding area. The haul vanished without a trace initially, exposing vulnerabilities in aviation logistics.

Authorities nabbed 43-year-old Arsalan Chaudhary on Monday as he arrived from Dubai, charging him with theft over $5,000, possession of stolen property, and conspiracy to commit an indictable offence. He's the latest in a string of arrests that includes Indian-origin figures like Parmpal Sidhu and Amit Jalota.

One major player remains at large: 33-year-old Simran Preet Panesar, a former Air Canada employee from Brampton, Ontario, believed to have manipulated airline systems to reroute the cargo. Warrants are out for him, with his last sighting traced to India, prompting calls for international cooperation.

To date, police have recovered only fragments—less than $100,000 in melted-down gold and some cash—suggesting the bulk was likely laundered or smuggled abroad. The case highlights insider threats at major hubs, similar to past aviation-linked thefts, and has led to enhanced security protocols for high-value shipments. Police vow to pursue leads relentlessly, with potential ties to the U.S. adding complexity. Updates expected as the case progresses.