Canadian police arrest «crypto king» on $30 million fraud charges
Canadian police have arrested 25-year-old Aiden Pleterski, known as the «crypto king», on charges of fraud amounting to around $30 million. The arrest came after a 16-month investigation conducted by the Ontario Securities Commission (OSC) and the Durham Regional Police Service (DRPS).
Investors deceived by promises
According to the charges, between 2021 and 2022, Pleterski convinced 160 investors to put $40 million Canadian dollars (approximately $30 million) into his cryptocurrency scheme. He promised to invest these funds in currencies and crypto assets, but actually only used 2% of the funds for their intended purpose. He misappropriated the majority of the money and spent it on luxurious cars, international trips, and mansion rent. As a result, two McLaren cars, two BMWs, and one Lamborghini were confiscated from Pleterski.
Legal proceedings and discoveries
Pleterski’s parents posted bail of approximately $73,400 for his release, but he was required to surrender his passport and refrain from posting about financial matters and cryptocurrency trading. During the investigation, details also emerged about Pleterski’s abduction in December 2022. He was held captive by five victims of his scheme and physically assaulted for three days. After his release, Pleterski posted a video apology on social media, which his lawyer claimed was made under duress.
Previous cryptocurrency scams
It is worth noting that last year, Canadian police arrested two teenagers who stole bitcoins and ethers amounting to $4 million, pretending to be Coinbase exchange customer support.
Public outrage over lavish display
This case has attracted significant attention due to the scale of the fraud and the display of the accused’s lavish lifestyle, who often flaunted his achievements on social media.
