July 6: Peel Regional Police have quietly conceded that the millions in gold stolen from Toronto Pearson Airport in April 2023 were likely smuggled out of Canada to the Middle East or South Asia. Lead investigator Det. Sgt. Mike Mavity revealed during a meeting that a significant portion of the gold was believed to have been quickly transported to markets in Dubai or India, where it was likely melted down soon after the theft.
The heist involved a low-tech method where a man gained access to an Air Canada Cargo terminal using a duplicate waybill for a seafood shipment. He then drove off with a palette full of gold bars. This case has been under investigation for nearly 15 months, with police providing few updates to the public.
Authorities have made multiple arrests related to the heist, including Air Canada employees and individuals involved in international firearm trafficking. Despite these arrests, much of the gold remains unaccounted for, with investigators recovering only a fraction in the form of crude gold bracelets. The investigation, already costing $5.3 million, is projected to reach up to $10 million.
