India blocks alleged insider’s exit as Canada seeks extradition over $22 million gold heist

Simran Preet Panesar, named by Peel Regional Police as an inside participant in the 2023 Toronto airport heist that yielded over $22 million in gold and cash, is currently detained in India as the Directorate of Enforcement investigates alleged laundering of the stolen assets. Authorities suspect he routed the loot through Indian businesses and possibly melted the gold for sale in markets like India or Dubai. A court-issued Look Out Circular now bars him from exiting the Republic, and investigators seized electronic devices and about $3,000 in Indian currency from his Chandigarh home.

Canada has lodged a request for his arrest and extradition, while his Canadian counsel says the Indian actions prevent him from joining co-accused in upcoming Ontario trials. Panesar’s Indian lawyer seeks to overturn the search and asset freeze, noting multiple interrogations without charges. The case illustrates the complexities of cross-border cooperation in high-value crime prosecutions.