Canadian authorities have filed charges against Aiden Pleterski, a self-proclaimed “crypto king” and social media figure, for fraud and money laundering. The investigation, which spanned a considerable period of time, resulted in the arrest of Pleterski on May 14. He was released on C$100,000 bail, which was provided by his parents. Additionally, Pleterski’s associate, Colin Murphy, is facing charges of fraud for soliciting investments under false pretenses. He has been released with a promise to appear in court.
The charges relate to fraudulent activities amounting to over C$5,000, which carries a maximum sentence of 14 years’ imprisonment. The Durham Regional Police Service and the Ontario Securities Commission (OSC) did not disclose specific financial details during a press conference on May 16, due to a publication ban. However, it was revealed that the fraudulent activities may have continued until February 2024.
The investigation into Pleterski and his company, AP Private Equity, began in July 2022 following numerous complaints. Furthermore, an investor had previously filed a lawsuit for fraud against them. In August of the same year, Pleterski and his company were declared bankrupt, with the bankruptcy trustee uncovering that Pleterski had raised C$41.5 million but only invested 1.6% of that amount. He had spent C$15.9 million on personal luxuries, including luxury cars, a mansion, and private jet rentals.
Despite his bankruptcy and requests from the trustee for him to be incarcerated, Pleterski continued to live a lavish lifestyle. He claimed to have been kidnapped and tortured by an investor and his accomplices in December 2022, resulting in five arrests by the Toronto police in July 2023.
Pleterski’s arrest and subsequent charges serve as a warning to the crypto community in Canada. The authorities are taking fraudulent activities in the crypto space seriously and are actively pursuing those who engage in such practices.