The Enforcement Directorate Directorate (ED) on Friday raided the residence of Simran Preet Panesar, a 32-year-old man wanted in Canada for his alleged involvement in a $22.5 million gold heist from Toronto’s Pearson International Airport. Panesar, is facing a Canada-wide warrant questioning by ED officials at his home in Sector 79, Mohali as part of an ongoing money laundering investigation.
The ED had registered an Enforcement Case Information Report (ECIR, which is ED’s equivalent to the First Information Report) under the Prevention of Money Laundering Act (PMLA) over the $22.5 million heist from Toronto’s Pearson International Airport in April 2023.
A team of ED officials landed at Panesar’s residence in Mohali’s Sector 79 Friday morning and began questioning him. “Our teams have reached his (Preet Panesar) residence and are in the process of questioning him”, a senior ED official said.
The ED used Section 2 (1) (a) of PMLA which deals with cases of “cross-border implications” and mentions — “Any conduct by a person at a place outside India which constitutes an offense at that place and which would have constituted an offense specified in Part A, Part B or Part C of the Schedule, had it been committed in India and if such person [transfers in any manner] the proceeds of such conduct or part thereof to India”.