Toronto:
According to authorities on Wednesday, a self-described Canadian “Crypto King” and a companion who took in more than $40 million ($29.4 million) from investors have 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 an 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 Aiden 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 a $100,000 bail with his parents serving as sureties.
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Reuters reached out to attorney Michael Simaan, who previously represented Pleterski, but he did not return calls for comment.
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.
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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 go out [sic] after 10 pm.”