Key Takeaways
- Pleterski was arrested on May 14 and released the same day on C$100,000 bail
- His associate Colin Murphy was also charged with fraud for falsely claiming to receive “large weekly profits through savvy investments”.
Self-proclaimed Crypto King Aiden Pleterski is charged with money laundering and one count of fraud over 5,000 Canadian dollars ($3,666) by the Canadian authorities
Apart from him, police have also charged his associate Colin Murphy with fraud for falsely claiming to receive “large weekly profits through savvy investments.
The probe into Pleterski and his company, AP Private Equity titled “Project Swan” by authorities was started in July 2022 following several complaints. Commenting on the long investigation, Durham Police Chief Peter Moreira stated
“This investigation was extremely thorough, with more than 40 court orders sought and meticulous analysis of financial documents that took more than 18 months.”
Even though the police refrained from divulging more details about the probe, the Durham Regional Police Service and OSC stated that Pleterski’s fraudulent activities had possibly continued through February 2024.
The Ontario Superior Court of Justice declared Pleterski bankrupt in August 2022. Court documents show that only $2.2 million, including several luxury vehicles under his name, was seized, despite the Crypto King owing millions to over 100 investors.
A 2022 bankruptcy trustee report has revealed that Pleterski owned 11 vehicles, leased four other luxury cars, regularly flew on private jets and was living in a lakefront mansion worth around $45,000 a month to rent. Pleterski was arrested on May 14 and was released the same day on Canadian Dollars worth $100,000 bail provided by his parents. His next court appearance is scheduled for June.
In December 2022, things took a drastic turn when Pleterski was kidnapped for three days with one of the kidnappers later revealed as a former investor of Pleterski’s who had played a major role in the bankruptcy proceedings.
Five men were later charged in the kidnapping. Plterski had tricked investors during the crypto boom of 2021 and early 2022 by claiming that he could make them as rich as he was by purchasing digital assets. In reality, Pleterski invested just a fraction of the digital assets and spent the rest on purchasing luxury goods. A later court filing revealed that only around $3.15 million was recoverable for investors through bankruptcy.
