🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

Suspect in Canada's largest gold heist to surrender

Published 06/14/2024, 03:44 PM
Updated 06/14/2024, 03:47 PM
© Reuters. FILE PHOTO: Police officers open the back of the truck used in the heist after authorities gave details of the arrests made one year after some 400 kg (882 pounds) of gold and almost $2 million USD in cash was stolen from Toronto Pearson International Air
GC
-

By Saadeq Ahmed

TORONTO (Reuters) - A former Air Canada manager who is wanted for his alleged role in a $20 million gold heist, the largest in Canadian history, is preparing to turn himself, his lawyer told the Canadian Broadcasting Corp on Friday.

Simran Preet Panesar faces charges in connection with the April 2023 theft from Toronto's Pearson airport.

His lawyer, Greg Lafontaine, told CBC that Panesar was out of the country but did not say where. Lafontaine said he had informed authorities that Panesar planned to return to the country voluntarily within the next few weeks to surrender.

"He is anxious to have an opportunity to demonstrate his absolute innocence," Lafontaine said.

Lafontaine told CBC that Panesar was very confident in the justice system and that "when this prosecution is over, he will have been absolved of any wrongdoing."

Police said in April they had arrested six people and were looking for three more.

The suspects, including two Air Canada employees, are accused of forging an airway bill to steal a cargo arriving from Switzerland of 6,600 gold bars weighing 400 kg (882 pounds) and C$2.5 million in foreign currency, police officials said.

© Reuters. FILE PHOTO: Police officers open the back of the truck used in the heist after authorities gave details of the arrests made one year after some 400 kg (882 pounds) of gold and almost $2 million USD in cash was stolen from Toronto Pearson International Airport, at a news conference in Brampton, Ontario, Canada April 17, 2024.  REUTERS/Carlos Osorio/File Photo

Lafontaine's office said he was not able to comment further.

Police said earlier this month that they had arrested and charged Archit Grover, another individual allegedly involved in the gold heist.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.