Arrests Planned in $20 Million Gold and Cash Heist at Toronto Airport

Arrests made in $20M Pearson Airport gold and cash heist, raising security concerns and recovery efforts. Details to be announced by police.

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Arrests Planned in $20 Million Gold and Cash Heist at Toronto Airport

Arrests Planned in $20 Million Gold and Cash Heist at Toronto Airport

Police have made arrests in connection with a daring $20 million gold and cash heist that occurred at Pearson International Airport in Toronto on April 17, 2023. The theft involved a 'high-value container' that was taken from a holding cargo facility after being unloaded from an Air Canada plane. According to a lawsuit filed by Brink's against Air Canada, an unidentified individual gained access to the airline's cargo warehouse using fake paperwork and made off with $2 million in U.S. currency and 400 kilograms of gold bars worth approximately $21.1 million.

The arrests come exactly one year after the incident, which has been the subject of an ongoing investigation dubbed Project 24K. Representatives from Peel Regional Police and the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) are expected to provide more details about the arrests and the case at a news conference on Wednesday. The missing goods were reported to police shortly after the theft, and Brink's later sued Air Canada, alleging that the airline allowed the thief to walk away with the costly cargo. Air Canada has rejected the allegations, stating that it fulfilled its carriage contracts and that Brink's failed to note the value of the haul on the waybill.

Why this matters: The high-profile heist at one of Canada's busiest airports raises concerns about security measures and the vulnerability of valuable cargo. The successful arrests and ongoing investigation demonstrate the collaborative efforts of law enforcement agencies in tackling organized crime and recovering stolen assets.

The Federal Court filings claim that the thief absconded with 400 kilograms of gold in the form of 24 bars, as well as nearly $2 million in cash. The case has involved a breach of contract and millions of dollars in damages. With the police and the U.S. ATF poised to announce the details of the arrests, the public eagerly awaits more information about the individuals involved and the progress made in recovering the stolen gold and cash.

Key Takeaways

  • Police made arrests in $20M Pearson Airport gold heist in Toronto.
  • Theft involved 400kg of gold and $2M in cash from cargo facility.
  • Brink's sued Air Canada, alleging security breach allowed thief to escape.
  • Arrests come 1 year after incident, as part of ongoing investigation.
  • Authorities to provide details on arrests and recovery of stolen assets.