Canadian police have charged Aiden Pleterski, a self-proclaimed “crypto king” and social media personality, with one count of fraud over $5,000 Canadian dollars ($3,666) and money laundering. After a thorough investigation, his associate Colin Murphy has also been charged with fraud. The Ontario Securities Commission (OSC) and the police have made this announcement.
On May 14, Pleterski was arrested and released on the same day after his parents posted C$100,000 bail. Colin Murphy, on the other hand, has been accused of soliciting investments and falsely claiming to make “large weekly profits through savvy investments.” He has been released with a promise to appear in court.
The charges for fraud over C$5,000 can result in a sentence of up to 14 years’ imprisonment. The Durham Regional Police Service and OSC did not disclose the financial details behind the charges during a press conference on May 16 due to a publication ban. However, they 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 multiple complaints were filed. Durham Police Chief Peter Moreira stated that an investor had already sued them for fraud three months prior. Pleterski and his company were declared bankrupt in August of the same year. The bankruptcy trustee discovered that Pleterski had raised C$41.5 million but only invested 1.6% of that amount. He spent C$15.9 million on personal luxuries, including a Lamborghini, two McLarens, two BMW automobiles, and rentals of a mansion and private jets.
Despite his bankruptcy and the trustee’s requests for his imprisonment, Pleterski continued to live a lavish lifestyle. He even claimed to have been kidnapped and tortured by an investor and his accomplices in December 2022. This led to five arrests by the Toronto police in July 2023.
In conclusion, Aiden Pleterski’s fraudulent activities have led to serious charges of fraud and money laundering. His associate, Colin Murphy, has also been charged with fraud. The investigation into their activities and the subsequent legal proceedings will shed more light on the extent of their crimes.