Toronto police say they have recovered 23 stolen luxury cars worth more than $2 million in a series of raids carried out on Thursday.
They have also arrested eight people allegedly involved in break-ins at high-end homes across the city and the Greater Toronto Area, but say one suspect remains at large.
The operation, dubbed Project Yellowbird after the theft of a yellow Porsche Carrera last December, involved officers from several Ontario jurisdictions.
Police say four of the stolen cars were located in Europe with the help of the Canada Border Services Agency and are being shipped back.
Toronto police chief Bill Blair says the successful dismantling of the criminal ring has made Toronto a safer city.