According to a statement released by Peel Regional Police, a significant portion of the stolen gold was melted down in the basement of a Toronto-area jewelry store. The police, however, did not provide specific details regarding the exact amount of gold that was melted down.
Last week, police announced the theft of 6,600 gold bars, valued at over $20 million, from an Air Canada cargo facility at Toronto Pearson Airport on April 17, 2023. Cash amounting to $2.5 million was also taken. Subsequently, multiple arrests were made, and the circumstances surrounding the gold heist were disclosed.
During a press conference, Detective Sergeant Mike Mavity revealed that a suspect approached the facility with a fraudulent airway bill, which was handed over to an attendant. Shortly after, a forklift arrived with a container holding the gold and foreign currency, which was then loaded into a truck driven by a suspect who fled with the stolen goods.
As the investigation unfolded, the only gold recovered from the heist consisted of six gold bracelets resembling bangles. Mavity confirmed that these bracelets were sent for examination and found to be pure gold with a combined value of over $89,000.
Nine individuals have been identified and either arrested, charged, or have Canada-wide warrants issued in connection with the case. Among those arrested are the owner of the jewelry store and an Air Canada employee.
