Canadian police believe $20 million worth of gold has disappeared abroad following a robbery

A police agency in Canada believes that more than 6,500 gold bars have disappeared abroad after being stolen from an airport last year.

The incident, which occurred in April 2023 at Toronto’s Pearson International Airport, was possibly the most valuable gold robbery in history. Police reported that over $20,000,000 worth of gold was stolen in the form of 6,600 serial-numbered bars.

“We believe a large portion went overseas, to markets that are full of gold,” lead investigator Det. Sgt. Mike Mavity said at a Peel Police Service Board meeting on June 21, according to the Canadian Broadcasting Corporation.

CANADIAN POLICE: 9 PEOPLE CHARGED AFTER $20 MILLION WORTH OF GOLD STOLEN FROM AIRPORT LAST YEAR

Police officers open the back of a recovered truck during a press conference for Project 24K, a joint investigation into the gold theft at Pearson International Airport in Brampton, Ontario. (Arlyn McAdorey/The Canadian Press via AP)

He continued: “That would be Dubai or India, for example, where you can take gold with serial numbers and it will still be recognized and melted down.”

Mavity said he was convinced the gold was handed over to another party and melted down shortly after the robbery.

Suspects in the case include a jeweler, a former Air Canada manager and a warehouse worker. In total, nine people were arrested in connection with the case.

Robbery at Toronto Airport: Container with gold and valuables worth $15 million stolen from cargo facility

A monitor displays a photo of the fake seafood order used to gain access to Air Canada’s warehouse. Peel Regional Police and the U.S. Alcohol, Tobacco and Firearms Bureau announced details and arrests in connection with the theft of $20 million worth of gold from Pearson International Airport. (Richard Lautens/Toronto Star via Getty Images)

The suspects reportedly used a completed seafood pickup invoice to falsify documentation, which they handed to a warehouse worker.

Authorities believe that a small amount of precious metal was melted down in the basement of a Mississauga jewelry store immediately after the robbery. Only 90,000 Canadian dollars were seized during the robbery.

Police attempted to establish links between the stolen gold and cross-border arms trafficking, pointing to dozens of firearms seized from suspects during the investigation.

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Peel Police Sergeant Mike Mavity, one of the lead investigators in the case, speaks to the media as the total amount of gold recovered so far is projected next to him. (Richard Lautens/Toronto Star via Getty Images)

Two fully automatic weapons and several missing firearms were seized, but authorities have so far provided no solid evidence of links to illegal arms trafficking.