Canadian Airport Robbery: $20 Million in Gold Stolen and Suspects Believed to Have Fled Overseas, Police Report

Money | July 6, 2024, 1:54 p.m.

In April 2023, a record-breaking gold heist at Toronto's Pearson International airport saw over 6,500 gold bars worth more than CA$20,000,000 stolen. The Peel Police Service reported that the gold bars, each serialized, were most likely smuggled overseas to gold-rich markets like Dubai or India. Lead investigator Det. Sgt. Mike Mavity revealed that the stolen gold was likely melted down shortly after the heist, with suspects including a jewelry store owner, a former Air Canada manager, and a warehouse employee. Nine individuals have been arrested in connection to the case, with only a fraction of the stolen gold recovered. Authorities suspect that a small amount of gold was melted down in a Mississauga jewelry store's basement post-heist. The investigation has also uncovered links between the stolen gold and cross-border gun trafficking, with firearms seized from suspects.