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Ontario’s ‘Crypto King’ Arrested in Alleged $30 Million Ponzi Scheme

Summary:
Ontario’s self-styled ‘Crypto King,’ Aiden Pleterski, was arrested and accused of fraud and money laundering related to an alleged Ponzi scheme following one of the most extensive fraud investigations the region has witnessed. The 25-year-old, along with his associate, 27-year-old Colin Murphy, allegedly stole approximately million from unsuspecting victims. Crypto King’s Arrest The charges stem from a 16-month investigation known as ‘Project Swan’ conducted by Canadian authorities amidst an ongoing bankruptcy case related to the alleged scheme, which has garnered significant media attention in the country. This investigation involved interviews with numerous victims, dozens of court orders, as well as thousands of pages of financial documents, according to officials.

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Ontario’s self-styled ‘Crypto King,’ Aiden Pleterski, was arrested and accused of fraud and money laundering related to an alleged Ponzi scheme following one of the most extensive fraud investigations the region has witnessed.

The 25-year-old, along with his associate, 27-year-old Colin Murphy, allegedly stole approximately $30 million from unsuspecting victims.

Crypto King’s Arrest

The charges stem from a 16-month investigation known as ‘Project Swan’ conducted by Canadian authorities amidst an ongoing bankruptcy case related to the alleged scheme, which has garnered significant media attention in the country.

This investigation involved interviews with numerous victims, dozens of court orders, as well as thousands of pages of financial documents, according to officials.

The official press release stated,

“Mr. Pleterski has been charged with one count of fraud over $5,000 contrary to Section 380(1)(a) of the Criminal Code, and one count of laundering proceeds of Canadian crime contrary to Section 462.31(1)(a) of the Criminal Code. The allegations involving Mr. Pleterski are covered by a publication ban issued on May 14, 2024, pursuant to subsection 517(1) of the Criminal Code.”

Stephen Henkel of the Ontario Securities Commission noted that Pleterski was not registered with any Canadian securities regulator in any capacity. Authorities indicated that he may have been soliciting investors as recently as February 2024.

The Kidnapping

It’s important to note that none of the allegations against Pleterski have been proven in court. Ontario authorities refrained from disclosing further details of their case, but it is important to note that Pleterski was reportedly abducted, assaulted, and subjected to torture by five individuals claiming to be his victims last year.

According to court records, the five suspects were nabbed by Toronto police on charges of kidnapping for ransom and other offenses, including one individual who had invested money with Pleterski.

After being held captive for three days, Pleterski was released by his captors, but only after he was pressured to produce a sum of money urgently, as per court records. In a video obtained by CBC News, a visibly bruised and injured Pleterski was heard apologizing, expressing regret for any harm caused, with his lawyer confirming that the video was recorded during the kidnapping ordeal.

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