Canadian police arrest 6 in largest gold heist

BRAMPTON, Ontario—Canadian and US authorities said on Wednesday six people have been arrested and three more are being sought in connection with what they called the largest gold heist in Canadian history—a cargo of over C$22 million ($16 million) in gold and currency.

The suspects, including two Air Canada employees, forged an airway bill to steal a cargo arriving from Switzerland of 6,600 gold bars weighing 400 kilograms and C$2.5 million ($1.8 million) in foreign currency, police officials said.

Speaking exactly one year after the heist, which took place at an Air Canada cargo facility at Toronto Pearson International Airport, Peel regional police at a press briefing named the nine suspects and detailed the 19 charges they face.

Five suspects were arrested in Canada and released on bail pending trial. One suspect, originally from Brampton, Ontario, was arrested in Pennsylvania along with firearms and remains in custody in the United States.

Canada-wide warrants have been issued for the remaining three suspects, police said.

Air Canada said it had suspended one cargo division employee charged in the theft while the other, who worked in the same department at the time of the heist, had left the airline before the charges were announced.

The truck used for the heist is flanked by police vehicles as authorities give details of the arrests made one year after some 400 kg (882 pounds) of gold and almost 2 million U.S. dollars in cash were stolen from Toronto Pearson International Airport, at a press conference in Brampton, Ontario, Canada April 17, 2024. REUTERS/Carlos Osorio

Melted gold

“As this is now before the courts, we are limited in our ability to comment further,” Air Canada said in a statement.

Investigators from the Peel regional police, working with the US Bureau of Alcohol, Tobacco, Firearms and Explosives, recovered 1 kg of gold and about C$434,000 in Canadian currency.

“We believe that they’ve melted down the gold and then the profits they got from the gold, they used to help finance the firearms,” detective Sgt. Mike Mavity said.

Police also recovered some 65 firearms that investigators allege were purchased with the proceeds from the theft.

Following the heist, Miami-based transport and security services provider Brinks sued Air Canada in October, alleging “negligence and carelessness” by the airline.

Brinks had been hired by Swiss bank Raiffeisen Schweiz and precious metals refining company Valcambi to move the valuables from Zurich to Toronto.

Reuters

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