Back to main

Canadian ‘Crypto King’ Aiden Pleterski Arrested for $30 Million Ponzi Scheme

Table of Contents

Aiden Pleterski, a 25-year-old self-proclaimed “Crypto King” from Ontario, Canada, and his associate Colin Murphy have been arrested and charged with fraud for their alleged involvement in a $30 million Ponzi scheme.

The arrests come after a 16-month investigation by Canadian authorities, dubbed “Project Swan,” into the alleged investment fraud.


TLDR

  • Aiden Pleterski, a self-proclaimed “Crypto King” from Ontario, Canada, and his associate Colin Murphy have been arrested and charged with fraud for allegedly running a $30 million Ponzi scheme.
  • Pleterski, 25, is accused of defrauding approximately 160 investors out of $40 million CAD ($30 million USD) between 2021 and 2022, promising high returns on investments in crypto and foreign exchange markets.
  • According to bankruptcy proceedings, Pleterski only invested 2% of the funds he received and spent at least $16 million on a lavish lifestyle, including luxury cars, international travel, and a lakefront mansion.
  • In December 2022, Pleterski was allegedly kidnapped, beaten, and tortured by five of his alleged victims, who demanded a $3 million ransom for his release.
  • Pleterski was released on $100,000 bail, with conditions including surrendering his passport, refraining from social media posts about financial matters, and not buying or trading crypto.

According to court documents and local media reports, between 2021 and 2022, Pleterski and his company, AP Private Equity Limited, convinced approximately 160 investors to hand over around $40 million CAD ($30 million USD) to invest on their behalf in the crypto and foreign exchange markets. Pleterski promised investors high returns, with some taking out loans to invest in the scheme.

However, a bankruptcy trustee overseeing Pleterski’s case concluded that the self-proclaimed “Crypto King” only invested 2% of the funds he received.

Instead, Pleterski allegedly spent at least $16 million on a lavish lifestyle, purchasing luxury cars, traveling internationally, and renting an $8.4 million lakefront mansion for $45,000 per month.

During the bankruptcy process, two McLarens, two BMWs, and a Lamborghini were seized from Pleterski.

The young entrepreneur, who is also a small-time livestreamer, documented his extravagant lifestyle on social media, posting videos of his vacations, driving rented sports cars, and even detailing his expenditures on Lego sets, which he estimated to be around $150,000 since 2021.

Pleterski was allegedly kidnapped, beaten, and tortured by five of his alleged victims in December 2022.

The perpetrators held him for three days, demanding a $3 million ransom from his landlord-turned-mentor. Pleterski was eventually released, but a video of him apologizing to investors, appearing bruised and swollen, was posted on social media. His lawyer later claimed that the apology was coerced.

Pleterski was released on $100,000 bail, signed for by his parents. As part of his bail conditions, he must surrender his passport, refrain from posting about financial matters on social media, and not buy or trade cryptocurrencies.

The case has garnered significant media attention in Canada, with the lavish lifestyle and alleged criminal activities of the “Crypto King” capturing the public’s imagination.

As the legal proceedings unfold, investors who fell victim to the alleged Ponzi scheme hope to recover some of their lost funds, while authorities work to bring those responsible to justice.

The post Canadian ‘Crypto King’ Aiden Pleterski Arrested for $30 Million Ponzi Scheme appeared first on Blockonomi.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Read on Blockonomi Investment Disclaimer