Canada has formally requested the extradition of Preet Panesar from India in connection with the 2023 gold heist, which involved the theft of gold valued at $20 million.
Panesar, identified as a key accused in the case, was previously traced to a location in Punjab. The Enforcement Directorate in India has conducted searches and filed a case against him. Canadian authorities have charged or named nine individuals in the investigation, with Panesar listed as wanted.
According to The Indian Express, the Peel Regional Police in Canada confirmed the formal extradition request and detailed the arrest of another suspect, Arsalan Chaudhary, at Toronto Pearson International Airport. Panesar, 33, is alleged to have played a central role in the heist, with Canadian police describing him as “integral” and “on top of the food chain” in the operation.
The Enforcement Directorate in India has been investigating alleged money laundering linked to the proceeds of the gold heist, The Indian Express reported. Officials stated that funds were routed through various channels, including the music industry.
When The Indian Express contacted Panesar’s lawyer, Damanbir Singh Sobti, he declined to comment on the extradition request or the money laundering allegations.
While the extradition process is underway, Indian authorities have not yet been formally notified of the request but remain in contact with Canadian officials, The Indian Express reported. The case is considered the largest gold heist in Canadian history, and efforts to recover the stolen assets and prosecute those responsible are ongoing.
Note: This article is produced using AI-assisted tools and is based on publicly available information. It has been reviewed by The Quint's editorial team before publishing.