New Delhi: Reports indicate that Indian agencies have been directed to apprehend Simran Preet Panesar, a key figure in Canada’s largest-ever gold smuggling case. Panesar, a former Air Canada employee, is believed to have played a pivotal role in the CAD 20 million (approximately $14.5 million USD) gold heist at Toronto Pearson International Airport on April 17, 2023. Indian agencies are reportedly collaborating with their Canadian counterparts in the ongoing investigation.
Panesar is accused of manipulating airline systems to divert and illegally secure a shipment containing 6,600 gold bars, weighing 400 kilograms. Following the audacious theft, he reportedly fled to India. The decision for an Indian investigation was prompted after over INR 80 million (approximately $960,000 USD) was traced to his name in India.
In February, Indian police received information that Panesar was at a flat in Chandigarh, but he managed to evade capture. Subsequent searches of his other flats yielded crucial information, leading to a case being registered against him under the Prevention of Money Laundering Act (PMLA).
The Enforcement Directorate (ED) has raised suspicions that Panesar received money through hawala transactions after arriving in India, and that these funds may include illicit money from abroad. Large sums of money have reportedly been credited to his accounts from various countries between 2023 and 2025. However, it is not yet confirmed if all of this money is directly linked to the gold smuggling operation.
To prevent Panesar from escaping India, the Enforcement Directorate has issued a Look Out Circular (LOC) against him. Indian investigating agencies have stated that they are awaiting further evidence from Canadian officials while conducting their own investigations. However, Panesar’s legal team has challenged this action in the Punjab-Haryana High Court, arguing that no crime was committed in India and that no formal requests have been received from Canadian investigating agencies.
