‘Crypto King’ Aiden Pleterski and Associate Charged With Fraud in Alleged $30M Ponzi Scheme

Canada’s self-accIaimed “Crypto King” Aiden Pleterski and his associate Colin Murphy have been arrested and charged with fraud for allegedly using a crypto and foreign exchange investment scheme to ripp off investors of $40 million CAD – approximately $30 million USD.

Pleterski, 25, and Murphy, 27, were charged with fraud and money laundering for their roles in the ponzi scheme, the Ontario Securities Commission announced.

The criminal charges are the result of a 16-month investigation by Canadian authorities code named Project Swan. There is also an ongoing bankruptcy case tied to the alleged scheme that has been the subject of much media attention in Canada.

Pleterski and his company AP Private Equity Limited siphoned $40million in Canadian dollars from 160 investors between 2021 and 2022 after promising to invest in crypto and foreign exchange markets on their behalf, media reports say.

Pleterski only invested 2% of the money he was given, and spent at least $16 million on himself – buying over 10 luxury cars, traveling internationally, and renting a $8.4 million lakefront mansion for $45,000 per month.

In December 2022, Pleterski was allegedly kidnapped, beaten and tortured by five victims of his alleged Ponzi scheme. According to reports, Pleterski’s alleged abductors held him for three days and subjected him to torture before demanding his landlord-turned-mentor pay a $3 million ransom for his release.

Pleterski was eventually released, but a 12-minute video of him, appearing swollen and bruised while apologizing to investors – which his lawyer later said was coerced – was posted to social media.

Pleterski was released on $100,000 bail on Tuesday, signed for by his parents, according to a Wednesday report from CBC.

Pleterski’s bail conditions require that he surrender his passport, refrain from posting anything on social media about financial matters, and not buy or trade crypto, the report added.

Leave a Reply

Your email address will not be published. Required fields are marked *