Crypto King Aiden Pleterski Under Fire: Faces Fraud and Money Laundering Charges
Crypto News- Canadian police have charged self-proclaimed “crypto king” and social media figure Aiden Pleterski with one count of fraud over $5,000 CAD ($3,666 USD) and money laundering. His associate, Colin Murphy, faces a fraud charge as well, according to announcements from the police and the Ontario Securities Commission (OSC).
Pleterski was arrested on May 14 and released the same day on a $100,000 CAD bail, provided by his parents. Colin Murphy, who is accused of soliciting investments under false pretenses of earning “large weekly profits through savvy investments,” was released with a promise to appear in court. In Canada, fraud involving amounts over $5,000 CAD can lead to up to 14 years in prison.
Durham Police and OSC Reveal Details on Lengthy Investigation into Crypto King’s Fraudulent Activities
The Durham Regional Police Service and OSC held a press conference on May 16, where they did not disclose financial specifics of the charges due to a publication ban but mentioned that Pleterski’s fraudulent activities might have continued through February 2024. The investigation into Pleterski and his company, AP Private Equity, began in July 2022 after numerous complaints were filed. 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.”
Lavish Spending Uncovered in Bankruptcy Trustee’s Report
Three months before the investigation started, an investor had already sued Pleterski for fraud. Pleterski and his company were declared bankrupt in August 2022, with the bankruptcy trustee revealing that Pleterski had raised $41.5 million CAD but only invested 1.6% of it. Instead, he spent $15.9 million CAD on luxury items, including a Lamborghini, two McLarens, and two BMWs, as well as on mansion rentals and private jet charters.
Despite his bankruptcy and requests from the trustee for his imprisonment, Pleterski continued his extravagant lifestyle. In December 2022, he claimed he was kidnapped and tortured by an investor and accomplices, leading to five arrests by Toronto police in July 2023.
FAQ for Crypto King Aiden Pleterski
Who is Aiden Pleterski?
Aiden Pleterski, often referred to as the “Crypto King,” is a self-declared cryptocurrency expert and social media personality who has gained notoriety for his involvement in fraudulent investment schemes.
What charges is Aiden Pleterski facing?
Aiden Pleterski is facing charges of fraud over $5,000 CAD and money laundering. These charges come after a lengthy investigation into his activities.
What led to the investigation into Aiden Pleterski?
The investigation began in July 2022 following numerous complaints from investors. Three months prior, an investor had already sued Pleterski for fraud, prompting further scrutiny into his financial activities.
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