Air Canada Employees Implicated in $24 Million Theft, Only $90K Worth Gold Recovered Yet

Amidst the intricate web of deceit surrounding the audacious heist at Pearson International Airport, authorities have unveiled startling revelations about the inner circle behind the brazen theft of nearly $24 million in gold and cash. According to law enforcement officials, the masterminds included two Air Canada employees and an owner of a Toronto jewelry store.

Despite a year-long investigation and a press conference held on Wednesday, Peel Deputy Chief Nick Milinovich emphasized that the probe is far from over. Only a fraction of the stolen gold, amounting to a mere $90,000, has been recovered thus far, leaving much of the loot still unaccounted for.

Dubbed Project 24K, the investigation delved into what authorities describe as a meticulously orchestrated scheme, funding various criminal endeavors, including gun trafficking. Milinovich stressed that organized crime knows no bounds, echoing concerns over the sophisticated nature of the operation.

Brampton Mayor Patrick Brown likened the saga to scenes from blockbuster films, emphasizing the complexity akin to “Ocean’s Eleven” or a “C.S.I” episode. One pivotal breakthrough occurred when a Brampton driver was apprehended in Pennsylvania last September, found in possession of 65 illegal firearms intended for the Canadian black market. Investigators suspect these weapons were funded by proceeds from the gold heist.

The daring theft, facilitated by a falsified shipping document, saw the stolen gold transported via Air Canada, loaded onto a panel truck under the guise of legitimate cargo. Among the arrested individuals are former Air Canada personnel, including a manager who resigned last summer.

The heist, executed on April 17, 2023, saw the pilfering of 6,600 gold bars valued at $20 million, along with foreign currency totaling $2.5 million CAD. Detective Sergeant Mike Mavity revealed that the gold is believed to have been melted down and reshaped to evade detection.

In a bid to follow the money trail, investigators recovered $430,000 in Canadian currency, alongside six gold bracelets valued at approximately $90,000. Additionally, the discovery of “debt lists” sheds light on the distribution of funds and gold sales.

Peel Regional Chair Nando Iannicca underscored the ominous connection between gold and firearms, emphasizing the inexorable link to organized crime. Meanwhile, legal ramifications loom large, with Brink’s, the transport company involved, engaging in legal tussles with Air Canada over allegations of negligence.

While the investigation unfolds, stakeholders like Brink’s express gratitude towards law enforcement efforts, yet remain tight-lipped about the impact on their ongoing litigation. Air Canada, grappling with the fallout, confirms the involvement of its former employees in the heist, yet refrains from further comment due to legal constraints.