Canada's Biggest Gold Heist: Accused Flees, Extradition Sought from India

Canada has requested the extradition of Preet Panesar in connection with a gold theft case amounting to approximately ₹166 crore. Investigative agencies are continuously working on financial transactions and legal procedures.

A major gold theft case that has surfaced in Canada has expedited the legal and investigative processes between India and Canada. Since the name of an accused of Indian origin emerged during the investigation, agencies from both countries have been in constant contact. Canada has formally requested the Indian government to extradite Preet Panesar, accused in the theft of approximately ₹166 crore worth of gold, so that he can be prosecuted in a Canadian court.

Canada's Biggest Gold Heist

According to a report by The Indian Express, this incident occurred in 2023 and is being counted among the biggest incidents in Canada. Peel Police in Canada, in a press release on January 12, stated that this is the biggest gold heist in Canadian history, codenamed 'Project 25K'. A total of 400 kg of gold was stolen, valued at $20 million, or approximately ₹166 crore. A total of 9 accused were involved in this theft, of whom 2 are absconding. One of the absconding accused is Preet Panesar, who is suspected to be hiding in India.

Canadian Police Allegations

Canadian investigative agencies claim that Preet Panesar played a significant role in the entire case. It is alleged that he was an employee of Air Canada and used his access and responsibilities to alter air cargo-related procedures, making it possible to remove the container filled with gold. The investigation report identifies Panesar as a crucial part of this plan and considers his interrogation essential for the case.

Hideout in Chandigarh

The case was investigated in India. The Enforcement Directorate (ED) located Preet Panesar's hideout in a rented house in Mohali, Chandigarh. Documents and electronic equipment were seized during the investigation. According to agencies, Preet Panesar allegedly received ₹8.5 crore through hawala channels. This money was deposited into various accounts and later used as an investment in a business with his wife, Preeti, named M/S Star Makers Entertainment.

Next Phase of Extradition Process

Following the extradition request sent by Canada, the legal process in India will now move forward. This process will involve courts examining the documents and making decisions according to the rules. If the extradition is approved, the accused can be sent to Canada. This case is considered significant in terms of legal cooperation between the two countries and the process of dealing with international crimes.