Authorities announced that they had arrested and charged a self-described Canadian “Crypto King” and his partner with fraud after taking more than C$40 million ($29.4 million) from investors.
Authorities stated on Wednesday that a self-described Canadian “Crypto King” and a companion who took in excess of C$40 million ($29.4 million) from investors had been taken into custody and charged with fraud.
According to a statement from Durham Regional Police, on May 2, Aiden Pleterski, 25, was charged with fraud totaling more than $5,000 and laundering the proceeds of criminal activity. The statement also stated that Pleterski’s associate, 27-year-old Colin Murphy, was charged with fraud as well and released on an undertaking.
After cops received multiple complaints about investment fraud beginning in July 2022, the two individuals were charged after a 16-month investigation. According to the statement, the inquiry showed that the two were “generating large weekly profits through savvy investments” and that, in the end, the victims were “defrauded” and could not get their money back.
Pleterski and his business, AP Private Equity Ltd., were placed in bankruptcy by an Ontario Superior Court in August 2022, and Grant Thornton Ltd. was named trustee.
Only 1.6% of the C$41.5 million in investment funds that Pleterski received appear to have been invested, based on court documents that Grant Thornton made available online.
Pleterski must turn in his passport to the Durham police after being freed on $100,000 bail with his parents serving as sureties.
Pleterski, who has more than 100,000 social media followers, would show off his trips and collection of high-end vehicles, such as McLarens and Lamborghinis.
Ages 18 to 25 are peculiar. In the text overlay of a video that was uploaded to TikTok late on Tuesday, Pleterski wrote, “We have friends who don’t drive, some have kids, some are getting married, some are dating, and some still have to ask their parents to go out [sic] after 10 p.m..”
Also read: Unveiling the Ethical Imperatives: Navigating the Intersection of AI and Cybersecurity
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