Canadian authorities have brought charges against Aiden Pleterski, a self-proclaimed “crypto king” and social media influencer, for fraud and money laundering. Colin Murphy, Pleterski’s associate, has also been charged with fraud. The Ontario Securities Commission (OSC) and the Durham Regional Police Service made the announcement following a thorough investigation.
Pleterski was arrested on May 14 and released on 100,000 CAD bail, which was provided by his parents. Murphy, on the other hand, has been accused of soliciting investments and making false claims about his investment profits. He was released on a promise to appear in court.
The charges carry a maximum penalty of 14 years’ imprisonment for fraud over 5,000 CAD. However, the financial details behind these charges were not disclosed during the press conference on May 16 due to a publication ban. Authorities did mention that Pleterski’s fraudulent activities may have continued until February 2024.
The investigation into Pleterski and his company, AP Private Equity, began in July 2022 after numerous complaints were filed. It was revealed that Pleterski had raised 41.5 million CAD and only invested 1.6% of that amount. He reportedly spent 15.9 million CAD on personal luxuries, including luxury cars, mansion rentals, and private jets.
Despite his bankruptcy and the trustee’s requests for his imprisonment, Pleterski continued to live a lavish lifestyle. He claimed to have been kidnapped and tortured by an investor and his accomplices in December 2022, leading to arrests in July 2023.
Pleterski’s case highlights the need for caution among crypto investors, as scams and fraudulent activities remain a significant concern.