Author: KyawSoe Oo
BRAMPTON, Ontario (Reuters) – Police in Canada and the United States have arrested six people and are searching for three in connection with the theft of more than C$22 million ($16 million) in gold and cash from an Air Canada cargo terminal last year.
In what authorities called the largest gold heist in Canadian history, suspects including an Air Canada employee falsified an air waybill to steal cargo that arrived in Toronto from Zurich in April 2023.
The shipment contained 6,600 gold bars weighing 400 kilograms (882 pounds) worth more than C$20 million and C$2.5 million in foreign currency, Peel Regional Police told reporters at a briefing.
The suspects face more than 19 charges from authorities, who recovered one kilogram of gold and about C$434,000 in Canadian currency, according to police.
The stolen gold may have been melted down and recovered, making it difficult to find, police said.
Police also found about 65 firearms that investigators say were purchased with proceeds from the theft.
“We believe they melted down the gold and then used the profits from the gold to finance the manufacture of firearms,” Detective Sergeant Mike Mavity said.
Five suspects were arrested in Canada and released on conditional release. One suspect, originally from Brampton, Ontario, was arrested in Pennsylvania along with a firearm and remains in custody in the United States. According to police, warrants have been issued for the other three suspects throughout Canada.
Following the robbery, Miami-based transportation and security services company Brinks sued Air Canada in October, accusing the airline of being “careless and negligent.”
Brinks was hired by Swiss bank Raiffeisen Schweiz and precious metals recycling company Valcambi to transport valuables from Switzerland to Canada.
($1 = 1.3798 Canadian dollars)