Canadian authorities have charged Aiden Pleterski, a self-proclaimed “crypto king” and social media influencer, with one count of fraud over $5,000 CAD ($3,666 USD) and money laundering following an extensive investigation. Colin Murphy, an associate of Pleterski, has also been charged with fraud, as announced by the police and the Ontario Securities Commission (OSC).
Pleterski was arrested on May 14 and released on the same day after his parents posted a bail of $100,000 CAD. Murphy, on the other hand, is facing charges for soliciting investments and falsely claiming to generate substantial weekly profits through his investment strategies. He was released with a promise to appear in court.
Crimes involving fraud amounts exceeding $5,000 CAD can lead to a maximum imprisonment of 14 years. The Durham Regional Police Service and OSC did not disclose specific financial details related to the charges during a press conference on May 16, citing 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 numerous complaints were filed. Durham Police chief Peter Moreira stated that an investor had previously sued them for fraud. In August of that year, Pleterski and his company were declared bankrupt. The bankruptcy trustee discovered that Pleterski had raised $41.5 million CAD and had only invested 1.6% of that amount. He spent $15.9 million CAD on personal luxuries, including multiple high-end cars, a mansion rental, and private jets.
Despite his bankruptcy and the trustee’s requests for his imprisonment, Pleterski continued to maintain a lavish lifestyle. He even claimed to have been kidnapped and tortured by an investor and his associates in December 2022, resulting in the arrest of five individuals by the Toronto police in July 2023.
Pleterski’s case sheds light on the growing trend of home robberies targeting cryptocurrency investors in Canada. It serves as a reminder to crypto enthusiasts to exercise caution and be aware of potential fraudulent schemes.