Canadian police are charging self-declared “crypto king” and social media personality Aiden Pleterski with one count of fraud over 5,000 Canadian dollars ($3,666) and money laundering after a lengthy investigation. His associate, Colin Murphy, was also charged with fraud, police and the Ontario Securities Commission (OSC) have announced.
Pleterski was arrested on May 14 and freed on the same day on 100,000-CAD bail provided by his parents. Murphy <a href="https://www.cbc.ca/news/canada/toronto/aiden-pieterski-charges-police-update-1.7205820" target="_blank" rel="noopener nofollow">faces</a> the charge against him for soliciting investments and falsely claiming to receive “large weekly profits through savvy investments.” Murphy was released on a promise to appear in court.
Related: <a href="https://cointelegraph.com/news/canadian-police-warn-crypto-investors-home-robberies">Canadian police warn crypto investors on growing home robbery trend</a>
Fraud in amounts over 5,000 CAD is punishable by up to 14 years’ imprisonment. The Durham Regional Police Service and OSC declined to disclose financial details behind their charges at a press conference on May 16, citing a publication ban, but said his fraudulent activities had possibly continued through February 2024.
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 Pleterski (third from left) in Los Angeles, Halloween 2023. Source: Aiden Pleterski/Instagram
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Police began their investigation of Pleterski and his company, AP Private Equity, in July 2022 after numerous complaints. Durham Police chief Peter Moreira was quoted in the press as <a href="https://www.durhamregion.com/news/massive-fraud-investigation-culminates-in-arrest-of-whitby-crypto-king/article_be6c75f0-4762-532f-836c-12d5f5562a2b.html" target="_blank" rel="noopener nofollow">saying</a>:
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 “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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An investor had sued them for fraud three months earlier. Pleterski and his company were declared bankrupt in August of that year, and the bankruptcy trustee found that Pleterski had raised 41.5 million CAD and invested 1.6% of that sum. He spent 15.9 million CAD on personal perks, <a href="https://cointelegraph.com/news/downfall-of-canada-s-lambo-driving-crypto-king-reportedly-sees-35m-in-losses">including a Lamborghini</a>, two McLarens, two BMW automobiles, rentals of a mansion and private jets.
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 Source: <a href="https://twitter.com/imdannydope/status/1681431305245052934%20" target="_blank" rel="noopener nofollow">Danny Dope</a>
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Pleterski <a href="https://www.cbc.ca/news/canada/toronto/ontario-crypto-king-jetsetting-abroad-while-bankrupt-1.7042719" target="_blank" rel="noopener nofollow">continued</a> to lead a jet-set lifestyle in spite of his bankruptcy and the trustee’s requests that he be jailed. He <a href="https://www.cbc.ca/news/canada/toronto/investor-lost-money-among-5-men-charged-kidnapping-ontario-crypto-king-1.6907548" target="_blank" rel="noopener nofollow">claimed</a> he was kidnapped and tortured by an investor and his accomplices in December 2022, leading to five arrests by police in Toronto in July 2023. 
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 Source: <a href="https://twitter.com/RTNBA/status/1720875483170996301%20" target="_blank" rel="noopener nofollow">NBA Retweet</a>
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Magazine: <a href="https://cointelegraph.com/magazine/crypto-city-ultimate-guide-toronto/">Your guide to crypto in Toronto: Crypto City</a>

‘Crypto King’ Aiden Pleterski faces fraud, money laundering charges

Cointelegraph

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