Arrests made, charges laid in largest gold heist in Canadian history

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Several arrests have been made and 19 charges laid in what police have called a “daring theft, the single-largest gold heist in Canadian history,” CBC News reported on Wednesday.

Police said among those charged are two men who worked for Air Canada and allegedly played key roles in the theft of some C$22.5 million in gold and cash from Toronto Pearson International Airport last spring, according to CBC.

Canada’s national police force investigated the heist last April at the country’s busiest airport that may have netted thieves more than C$20 million in gold taken from a cargo holding area at Pearson.

Swiss bank Raiffeisen Schweiz Genossenschaft and precious metals refining company Valcambi SA had hired Brink’s to move the goods from Zurich to Toronto, the lawsuit said.

Brink’s, in turn, arranged for Air Canada to fly the valuables between the two cities. In the wake of the brazen theft, Brink’s Co. sued Air Canada for allegedly letting a thief slip away with the loot.

The carrier failed to ensure the shipment marked “valuable cargo” had adequate security and protection, Brink’s alleged in the statement of claim, which was filed at the Federal Court of Canada on October  6, 2023. Air Canada rejected the allegations. 

Almost none of the gold has been recovered, though police did seize about C$430,000 in Canadian currency and six gold bracelets worth about C$89,000.

(With files from Bloomberg)