Latest news with #Panesar
News18
16 hours ago
- News18
Cinema, Crime, Karats: ED Traces Canada Gold Heist Funds To Vanity Film Starring Kingpin's Wife
Simran Preet Panesar, who received Rs 8.6 crore through hawala transactions after arriving in India, spent the amount on producing a film that neve released starring his wife. It began with a glittering film shoot in London, a vanity project where Simran Preet Panesar, prime accused in the infamous Canada airport gold heist case, cast his wife as the lead, wrapped the sets in luxury and glamour, and floated a production company promising global collaborations for the movie. Panesar, who received approximately Rs 8.6 crore through hawala transactions after arriving in India, spent the entire amount on producing a film starring his wife. He even registered a production company to facilitate its release. However, the film never saw the light of day, as the Enforcement Directorate (ED) intervened swiftly, News18 has learnt. The case known as 'Project 24Karat', which the Canadian Police chargesheet has called the 'largest gold heist in the history of Canada", saw a fresh twist almost after one-and-a-half years as the ED expanded its probe to look at the money trail for the gold smuggling and an auxiliary weapon-smuggling case across the Canada-US border. The ED registered an Enforcement Case Information Report (ECIR) on February 17 based on chargesheets from the US and Canadian police in the 20 million dollars gold and arms smuggling case, and has initiated a probe into weapon smuggling, with at least four Indian-origin suspects emerging in both the investigations. It included forged documents, offshore crime cartels, and money routed through hawala channels with precision. According to sources in the directorate, Panesar received around Rs 8.6 crore through hawala after arriving in India and funneled the entire amount into producing a film starring his wife. Shot in London, the film was backed by a production company he registered for its release. However, the movie was never released, as the ED moved in swiftly. The directorate's investigation into Panesar has now widened into a high-stakes probe involving arms deals, money laundering, and an international financial architecture built on hawala operations and inter-continental smuggling cartels, leading to a diplomatic and security flashpoint. This brings together agencies from India, USA and Canada. The film was merely the first act, designed to launder massive volumes of black money under the guise of international production costs. A production company registered in India with Panesar's links processed exaggerated crew payments and location rentals, with most of the money looping back to accounts through the middle-east, and lesser-known tax havens. The film was never released. But the money moved fast and quietly. A Look-Out Circular against Panesar is already in place. Diplomatic coordination is ongoing. He is currently living in Mohali and he is under ED's watch. The directorate is coordinating with Canada police regarding further investigation and exchange of documents. view comments First Published: July 25, 2025, 09:32 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
NDTV
3 days ago
- NDTV
India Probes Hawala Trail Linked To Suspect In Canada's Largest Gold Heist
New Delhi: Simran Preet Panesar, one of the prime suspects in Canada's largest gold heist, is now under the scanner of Indian authorities for allegedly receiving hawala payments worth over Rs 8.5 crore after arriving in India, according to sources in the Enforcement Directorate (ED). Panesar, a former Air Canada employee, is accused of playing a central role in the $20 million gold robbery at Toronto's Pearson International Airport in April 2023. He is said to have helped identify and divert a cargo shipment containing 6,600 gold bars, weighing around 400 kg, by manipulating airline systems, as per Canadian investigative agencies. After the heist, Panesar reportedly fled to India. He was traced earlier this year to a rented flat on the outskirts of Chandigarh. Days later, the ED conducted raids at multiple locations and registered a case under the Prevention of Money Laundering Act (PMLA), citing the cross-border nature of the alleged crime. Officials familiar with the investigation revealed that data recovered from Panesar's confiscated mobile phone provided crucial leads. The ED believes that shortly after settling in Mohali, Panesar received multiple hawala payments, traced to a Chandigarh-based operator who remains on the run. The agency has also seized diaries from the operator's staff containing entries of transactions linked to several foreign jurisdictions, including the US, UK, Canada, Singapore, and Australia. Investigators say these entries suggest large sums were funnelled into India between November 2023 and February 2025, although it remains unclear how much of this money directly stems from the gold heist. The hawala operator is suspected to have used a medical store and a money exchange business as a front to route the funds. The ED has issued a Look Out Circular (LOC) to prevent Panesar from fleeing India, while it awaits further evidence from Canadian authorities. Citing jurisdictional overreach, Panesar's legal team has challenged the ED's action in the Punjab and Haryana High Court, arguing that no crime was committed in India and no formal request has been received from Canadian agencies. Panesar is one of nine suspects named in the Canadian investigation. He has been described by the police there as "crucial" to the planning and execution of the heist - "on top of the food chain," as per their report. The ED investigation continues, with focus now on tracing the main hawala operator and establishing the criminal origin of the seized funds.
Indian Express
3 days ago
- Business
- Indian Express
Suspect in Canada airport gold heist ‘received Rs 8.5 crore through hawala' after arriving in India
Simran Preet Panesar, one of the nine suspects in the daring $20 million gold heist that took place at Canada's Pearson Airport in April 2023, allegedly received Rs 8.5 crore worth of hawala payments in several tranches once he arrived back in India, The Indian Express has learnt. In February this year, The Indian Express, in collaboration with CBC News: The Fifth Estate, Canada, had tracked Panesar to a rented accommodation on the outskirts of Chandigarh. Panesar faces a Canada-wide warrant and is wanted by the Canadian authorities, and his legal team is contesting his case in the country. Days after the report, the Enforcement Directorate (ED) had conducted raids and subsequently lodged an Enforcement Case Information Report (ECIR) in the case. 'Evidence' collected from Panesar's confiscated telephone yielded crucial leads for the probe agency, ED officials said, adding that he and his wife arrived in Mohali around three months after the heist, following which he allegedly received sizable hawala payments. A Look Out Circular (LOC) has been obtained by the ED to prevent Panesar from leaving the country and, officials said, additional details of the gold heist and his alleged role are awaited from the Peel Regional Police, which is investigating the case in Canada. Since the predicate offence was committed in Canada, the ED has used Section 2(1)(ra) of the Prevention of Money Laundering Act (PMLA), which deals with offences with cross-border implications. According to ED officials in Delhi and Chandigarh, their calculations indicate Panesar allegedly received Rs 8.5 crore worth of hawala payments in several tranches. Telephone calls and messages were traced to a hawala operator in Chandigarh. And while the operator has escaped the dragnet, his employees have been questioned, and diaries with details of alleged hawala payments have been seized and are now a crucial piece of evidence, officials said. The hawaladar was using the cover of running a medical store as well as a money exchange, it is learnt. It is learnt that the hawala diaries detail payments received from Canada, USA, Australia, Singapore and the UK between November 2023 and February 2025. 'While the diaries give valuable details of the extent of hawala payments, how much of the payments were proceeds of crime is difficult to say until the main hawaladar is traced,' an official said. Earlier this week, the action of the ED was challenged in the Punjab and Haryana High Court on jurisdictional grounds. Panesar's lawyer, Damanbir Singh Sobti, told The Indian Express, 'We have filed a writ challenging the Enforcement Case Information Report under the Prevention of Money Laundering Act. No offence has been committed in India, and no request for mutual assistance has come from Canada. Besides this, there is no proof that he is a wanted man in Canada.'' The lawyer added that they had just learnt that there was a Look Out Circular (LOC) issued in Panesar's name at Indian airports, which they intend to challenge in court. The ED had conducted searches on February 22 this year, days after The Indian Express had tracked down Panesar at his residence. At the time, Panesar had declined to give any 'on record' comments, citing 'legal reasons.' The heist The heist, described as Canada's largest, saw a consignment of 6,600 gold bars weighing 400 kg and valued at around $20 million stolen from the Pearson International Airport's cargo facility after being offloaded from a Zurich flight. Subsequently, Panesar, who was working as a supervisor in the cargo section's operations control, was described as one of the nine 'suspects' in the case. The Canada police reports described Panesar as 'an Air Canada employee, who searched for and identified the incoming shipment' and 'also manipulated the Air Cargo system to facilitate the physical removal of the container.' The investigation report alleges, 'He was integral (to the heist). You need him. He is crucial to this, absolutely crucial. He is on top of the food chain.' Ritu Sarin is Executive Editor (News and Investigations) at The Indian Express group. Her areas of specialisation include internal security, money laundering and corruption. Sarin is one of India's most renowned reporters and has a career in journalism of over four decades. She is a member of the International Consortium of Investigative Journalists (ICIJ) since 1999 and since early 2023, a member of its Board of Directors. She has also been a founder member of the ICIJ Network Committee (INC). She has, to begin with, alone, and later led teams which have worked on ICIJ's Offshore Leaks, Swiss Leaks, the Pulitzer Prize winning Panama Papers, Paradise Papers, Implant Files, Fincen Files, Pandora Papers, the Uber Files and Deforestation Inc. She has conducted investigative journalism workshops and addressed investigative journalism conferences with a specialisation on collaborative journalism in several countries. ... Read More
NDTV
4 days ago
- Sport
- NDTV
'India Have Good Chance Of Winning 4th Test If...': Ex-England Star's Big Claim
Former England spinner Monty Panesar believes India have a good chance of winning the fourth Test of the Anderson-Tendulkar Trophy if they can focus on the basics and use the strength of the pitch at Old Trafford to their advantage. India head into the fourth Test on the back of an agonising 22-run defeat at Lord's which saw them fall down to 1-2 in the tour of England. In an exclusive conversation with IANS, Panesar spoke on how the pitch will play out over the course of five days and how there will be something on offer for everyone. 'I think India's got a very good chance of doing well in the next Test match. The pitch will have everything to offer but it's about application and if they can do that, they will have a good chance of winning,' Panesar told IANS. In the nine Test matches that India have played at Old Trafford, England have won on four occasions, with five matches ending in a draw. Their last trip to the venue came under Mahendra Singh Dhoni in 2014, when they were playing at the venue for the first time in 24 years and ended in a defeat by an innings and 54 runs. 'It's going to be a good batting and bowling wicket, with the spinners getting something later on. There will be everything on offer for everyone. If you bowl badly, you'll be punished. While batting there will be pace and bounce, it will be the fastest pitch of the series so far. The bowlers will have to work hard to take wickets, and the batters will not be able to play loose shots and get away with it,' he added. Panesar, who played 50 Test matches for England in his playing days, is no stranger to Old Trafford and had recorded his best-ever figures at the venue, when he claimed 10-187 against the West Indies in 2017. The 42-year-old spoke on the mindset he used, which helped him shine on the biggest stages during his career. "While playing for England, the key was the processes. I focused on my preparation and processes, it helped me handle the pressure. It would have been a lot harder had I been focusing on the outcome. "It was tough, we had to be resilient and mentally strong. That is what is most important and everything else falls into place. Take the importance out of the equation; the bigger the occasion, less important it is in the mindset so you can perform at your best. I tend to perform better when stakes are higher; I used to enjoy bowling against the best batters in the world,' Panesar concluded.
NDTV
4 days ago
- Sport
- NDTV
'India Have Good Chance Of 4th Test If...': Ex-England Star Makes Big Claim
Former England spinner Monty Panesar believes India have a good chance of winning the fourth Test of the Anderson-Tendulkar Trophy if they can focus on the basics and use the strength of the pitch at Old Trafford to their advantage. India head into the fourth Test on the back of an agonising 22-run defeat at Lord's which saw them fall down to 1-2 in the tour of England. In an exclusive conversation with IANS, Panesar spoke on how the pitch will play out over the course of five days and how there will be something on offer for everyone. 'I think India's got a very good chance of doing well in the next Test match. The pitch will have everything to offer but it's about application and if they can do that, they will have a good chance of winning,' Panesar told IANS. In the nine Test matches that India have played at Old Trafford, England have won on four occasions, with five matches ending in a draw. Their last trip to the venue came under Mahendra Singh Dhoni in 2014, when they were playing at the venue for the first time in 24 years and ended in a defeat by an innings and 54 runs. 'It's going to be a good batting and bowling wicket, with the spinners getting something later on. There will be everything on offer for everyone. If you bowl badly, you'll be punished. While batting there will be pace and bounce, it will be the fastest pitch of the series so far. The bowlers will have to work hard to take wickets, and the batters will not be able to play loose shots and get away with it,' he added. Panesar, who played 50 Test matches for England in his playing days, is no stranger to Old Trafford and had recorded his best-ever figures at the venue, when he claimed 10-187 against the West Indies in 2017. The 42-year-old spoke on the mindset he used, which helped him shine on the biggest stages during his career. "While playing for England, the key was the processes. I focused on my preparation and processes, it helped me handle the pressure. It would have been a lot harder had I been focusing on the outcome. "It was tough, we had to be resilient and mentally strong. That is what is most important and everything else falls into place. Take the importance out of the equation; the bigger the occasion, less important it is in the mindset so you can perform at your best. I tend to perform better when stakes are higher; I used to enjoy bowling against the best batters in the world,' Panesar concluded.
