The Enforcement Directorate (ED) conducted a raid on the residence of Simran Preet Panesar, a 32-year-old former Air Canada manager, in Mohali's Sector 79, Punjab. Panesar is wanted in Canada for his alleged involvement in a gold heist valued at over CAD 20 million (approximately INR 122 crore) that occurred at Toronto's Pearson International Airport in April 2023.

Background of the Heist:

• Date and Location: On April 17, 2023, a significant theft took place at Toronto's Pearson International Airport.

• Stolen Assets: The cargo included 6,600 bars of pure gold, weighing 400 kg, and foreign currency worth CAD 2.5 million. These assets arrived on an Air Canada flight from Zurich, Switzerland, destined for a Canadian bank. citeturn0search4

• Modus Operandi: The heist was executed using fraudulent shipping documents, allowing the perpetrators to remove the valuable cargo from a secure storage facility.

Panesar's Alleged Involvement:

• Role at Air Canada: At the time of the heist, Panesar was employed as a manager at Air Canada in Brampton, Ontario. He had access to sensitive information regarding incoming high-value shipments.

• Actions During the Heist: Investigations suggest that Panesar manipulated the cargo tracking system to facilitate the theft. He allegedly monitored the shipment's arrival and orchestrated its unauthorized removal.

Post-Heist Developments:

• Relocation to India: Following the heist, Panesar relocated to India and has been residing in a rented accommodation on the outskirts of Chandigarh with his family. He has been assisting in his family's business affairs.

• Legal Proceedings in Canada: The Peel Regional Police in Canada have issued a Canada-wide warrant for Panesar's arrest. Despite initial reports in June 2024 suggesting he would surrender, Panesar has remained in India.

Enforcement Directorate's Actions:

• Initiation of Probe: The ED has registered an Enforcement Case Information Report (ECIR) under the Prevention of Money Laundering Act (PMLA) to investigate potential laundering of the stolen assets or their proceeds in India.

• Current Status: During the raid, ED officials questioned Panesar regarding his alleged involvement in the heist and the whereabouts of the stolen assets. The investigation aims to determine if any portion of the stolen gold or funds has been transferred to or concealed within India.

This case underscores the collaborative efforts between international and Indian authorities to address cross-border financial crimes and ensure that individuals involved are brought to justice.