Majority of Toronto Airport $20 Million Stolen Gold Likely in Dubai or India, Police Say

Published on July 7, 2024

Peel Regional Police say a significant portion of the gold stolen from Toronto Pearson Airport in April 2023 has likely been smuggled to Dubai or India. The heist saw 6,600 gold bars worth $20 million and roughly $2.5 million in various foreign currencies stolen from an Air Canada storage facility at Toronto Pearson Airport. Police said a small quantity of the gold was melted down in a jewelry shop in Toronto, while the rest is believed to have been sent abroad. “We believe a large portion has gone overseas to two markets that are flushed with gold—that would be Dubai or India—where you can take gold with serial numbers on it, and they will still honour it and melt it down,” Det.-Sgt. Mike Mavity said during a June 21 Peel Police Service Board meeting. “That is our belief. And we believe that happened very shortly after the incident.”...

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