ED Raids Mohali Premises of Suspect in Canada’s $20 Million Gold Heist

Mohali/New Delhi, Feb 21 – The Enforcement Directorate (ED) on Friday raided the Mohali home of a suspect who is reportedly connected with Canada’s biggest-ever gold theft worth more than $20 million. Official sources have named the suspect as Simran Preet Panesar, a thirtysomething man.

The robbery, which occurred April 2023 at Canada’s Pearson International Airport, saw an air cargo container with gold bars stolen from a vault storage area. It is claimed that the gang could have utilized forged documents in the brazen robbery.

The ED has suo motu filed a criminal case under the Prevention of Money Laundering Act (PMLA) to probe suspected Indian national involvement in this high-profile case. The investigation agency is looking at whether the proceeds of the crime were channelled to India and if any locals in the country profited from the looted gold.

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Simran Preet Panesar’s Mohali offices have been searched, and he will be questioned by ED officials, sources said. The agency acted even though Canada did not request help formally because the PMLA allows investigations into cases with cross-border implications when an Indian citizen is suspected of being involved.

The Canada gold heist has triggered international probes, with the authorities suspecting an organized crime network. The ED is eager to find out if there are any possible connections between the stolen funds and money laundering in India.

So far, Simran Preet Panesar has made no statement on the charges. The probe is still on, and more information is likely to come out as the authorities investigate deeper into the case.