A replica of a 31.1 gram gold bar. Peel Police recently disclosed that the gold shipment stolen from Toronto's Pearson Airport in April 2023, consisted of 6,600 bars. Meaning most of them were tiny.
The theft of 400 kilograms of gold from Toronto's Pearson Airport in April 2023 played out like a Hollywood movie. But even after police charged 12 men in connection with the heist, tens of millions in gold is still missing, raising the question of whether investigators have really cracked the case.A replica of a 31.1 gram gold bar.
Police remained mum for a full year, until they called a super-sized press conference on the first anniversary of the robbery to announce they had arrested nine men, and were seeking three more. To hear police tell it, "reverse alchemy" was at play. Tens of millions of dollars in gold transmuted into firearms, destined for Canadian streets.
Four hundred kilograms of gold are still missing. And even if police have the people who were responsible, the loot — or the cash it was converted into — appears to be long gone.The biggest break in the gold heist investigation was the result of a routine traffic stop on a Pennsylvania highway in September 2023. State troopers pulled over a car because its windows were too darkly tinted. When the driver tried to flee on foot, they suspected something more was at play.
"Four hundred kilos of gold is a lot of gold," said David Soud, head of research for security consultancy I.R. Consilium and an expert on how criminal organizations use gold to finance their activities. "That is an awful lot of guns, unless you are arming a militia, or unless you are planning to corner the market completely for guns in Canada."
"If you want to bring a large number of guns from the United States into Canada, there are better ways to do it than by staging a spectacular airport gold heist that's going to have multiple law enforcement agencies hunting for you very aggressively," said Soud. Which means that the stolen 400.19 kg of gold was actually worth $34.365 million in April 2023 — a value that has continued to rise with the gold market, approaching $41 million today.Peel Police recently revealed that the gold shipment in the Toronto Airport heist contained 6,600 gold bars of varying weights and sizes. Basic math gives us a better understanding of just how small most of the gold bars were. You may be surprised.
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