‘Cryptocurrency king’ Aiden Pletersky indicted on fraud and money laundering charges

adminMay 16, 2024

Canadian police have charged self-proclaimed ‘crypto king’ and social media celebrity Aiden Pleterski with fraud of more than CAD 5,000 ($3,666) and money laundering after a lengthy investigation. His colleague Colin Murphy has also been charged with fraud, police and the Ontario Securities Commission (OSC) announced.

Pleterski was arrested on May 14 and released the same day on C$100,000 bail provided by his parents. Colin Murphy was accused of soliciting investments and falsely claiming he was “earning big profits every week by investing wisely.” Murphy was released on a promise to appear in court.

Related: Canadian police warn cryptocurrency investors about rising trend of home burglaries.

Fraud over C$5,000 is punishable by up to 14 years in prison. Durham Regional Police and the OSC declined to disclose financial details of the allegations at a May 16 press conference, citing a publication ban, but said his fraudulent activities may have continued until February 2024.

*Pleterski (third from left) in Los Angeles, Halloween 2023. Source: Aiden Pleterski/Instagram*

Police launched an investigation into Pleterski and his company, AP Private Equity, in July 2022 after receiving numerous complaints. Durham Police Chief Peter Moreira was quoted in the media as saying:

“This investigation was extremely thorough, including a meticulous analysis of financial documents that required more than 40 court orders and took more than 18 months.”

An investor sued them for fraud three months ago. Pleterski and his company were declared bankrupt in August of that year, and the bankruptcy trustee discovered that Pleterski had raised C$41.5 million and invested 1.6% of that amount. He spent 15.9 million Canadian dollars on personal perks, including a Lamborghini, two McLarens, two BMW cars, a mansion and a private jet lease.

Pleterski continued to lead a jet-setting lifestyle despite bankruptcy and his trustee’s calls for him to be imprisoned. He claimed that he was kidnapped and tortured by investors and accomplices in December 2022, and that five people were arrested by Toronto police in July 2023.