A new arrest has been made in connection to the notorious 2023 gold heist in which millions of dollars' worth of gold bars were stolen at Toronto Pearson Airport, Canadian police said Monday.

Officers arrested and charged 43-year-old Arsalan Chaudhary when he arrived at the Toronto airport Monday on a flight from Dubai, United Arab Emirates, police said in a news release.

Chaudhary is charged with theft, two counts of possession of property obtained by crime, and conspiracy to commit an indictable offence. He was held for a bail hearing in Brampton, in the greater Toronto area, police said.

On April 17, 2023, a flight from Zurich, Switzerland, landed at the Toronto airport carrying a cargo shipment that included approximately 400 kilograms (about 880 pounds) of .9999 pure gold bars, worth more than $20 million Canadian (about $14.4 million in U.S. dollars), and $2.5 million Canadian in foreign currency.

The shipment was reported missing the following day from the Air Canada warehouse.

The police soon found that a suspect who arrived at the warehouse with a truck and a fake airway bill had loaded the gold shipment onto the truck and stolen it.

The Peel Regional Police, who are responsible for the airport area, launched an investigation they dubbed "Project 24K."

"This investigation demonstrates the dedication and expertise of Peel Regional Police in tackling complex, high-stakes crime," Peel Police Chief Nishan Duraiappah said in a statement. "Project 24K is a clear example of how our officers, working alongside national and international partners, can disrupt sophisticated criminal activity and hold those responsible accountable. Let it be known: no matter where you try to run or hide, we will find you." 

According to police, it was the largest gold heist in Canadian history. 

To date, 10 people have been charged or are wanted, and two individuals remain outstanding, including one subject to an extradition request who is believed to be in India.

One of the suspects, Durante King-Mclean, was arrested in Pennsylvania in 2023, accused of driving the truck.

The police have recovered only a small portion of the gold and some cash so far.

"We can confirm that investigators have recovered approximately one kilogram of .9999% pure gold, which had been crudely fashioned into bangles," police said in a statement. "In addition, we seized approximately $450,000 CAD, which we believe represents a portion of the profits generated through this illicit activity."

They said the investigation indicates the gold was sent overseas from Canada "to markets in India and/or Dubai, where it was melted down and reintroduced into the market for profit."

An investigation by CBS News's Canadian partner, CBC News's Fifth Estate, said that based on documents, authorities believe the heist was planned and executed by a highly organised group that mainly relied on an insider.

Police told CBC News's investigation that Chaudhary was "the most involved in the planning the theft," described as the "Top Dog."