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Aiden Pleterski, Dubbed ‘Crypto King’, Charged with Fraud and Money Laundering

May 17, 2024 at 11:22

Canadian authorities have charged Aiden Pleterski, a self-proclaimed “crypto king” and well-known social media figure, with fraud exceeding $5,000 CAD ($3,666) and money laundering after an extensive police probe. His associate, Colin Murphy, also faces fraud charges, according to statements from the police and the Ontario Securities Commission (OSC).

Pleterski was arrested on May 14 but was released the same day on $100,000 CAD bail secured by his parents. Murphy, accused of misleading investors about potential “large weekly profits through savvy investments,” was released on his own recognizance pending a court appearance.

Fraud involving sums over $5,000 CAD can carry a sentence of up to 14 years in prison. Details of the financial aspects behind the charges were not disclosed at a May 16 press conference due to a publication ban, though it was mentioned that Pleterski’s fraudulent schemes might have continued until February 2024.

The investigation into Pleterski and his firm, AP Private Equity, started in July 2022 following several investor complaints. Durham Police Chief Peter Moreira commented on the complexity of the investigation, noting, “This investigation was extremely thorough, with more than 40 court orders sought and meticulous analysis of financial documents that took more than 18 months.”

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Three months prior to the police investigation, an investor had already initiated a lawsuit for fraud. By August of that year, Pleterski and his company were declared bankrupt. The bankruptcy trustee’s findings revealed that Pleterski had amassed C$41.5 million, of which only 1.6% was invested. He reportedly spent C$15.9 million on luxury items such as a Lamborghini, two McLarens, two BMWs, and on renting a mansion and private jets.

Despite his bankruptcy, Pleterski maintained a lavish lifestyle. In December 2022, he alleged he was kidnapped and tortured by an investor and his associates, leading to the arrest of five individuals by Toronto police in July 2023.

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