Ontario’s Aiden Pleterski, known as the “Crypto King,” has been arrested following a 16-month investigation into allegations of fraud and money laundering. The 25-year-old from Whitby, Ontario, faces charges for defrauding investors and laundering the proceeds of his schemes.
Pleterski’s arrest marks a significant development in a prolonged investigation named Project Swan, led by the Durham Region Police Department. Since July 2022, authorities have received numerous complaints against Pleterski, accusing him of running fraudulent investment schemes. The investigation also led to the arrest of Colin Murphy from Oshawa, Ontario, who is charged with similar offenses.
Following his arrest, Pleterski was granted bail with his parents posting a $100,000 surety. His bail conditions include surrendering his passport, refraining from contacting investors, abstaining from financial-related social media posts, and prohibiting any cryptocurrency transactions.
Pleterski, who once declared bankruptcy and faced multiple legal challenges, continued to lead a lavish lifestyle. It is alleged that he used investor funds to purchase luxury vehicles such as McLarens, Lamborghinis, Audis, and BMWs. Despite owing millions to over 100 investors, only $2.2 million, including several luxury vehicles, was seized from Pleterski when he declared bankruptcy in August 2022.
Colin Murphy, who began operating his own investment scheme with Pleterski’s assistance in October 2022, is also implicated in the fraudulent activities. The investigation revealed that Murphy and Pleterski promised high returns through smart investments, deceiving numerous investors.
In a dramatic turn of events, Pleterski was abducted in downtown Toronto on December 5, 2022, and held captive for three days. Four individuals, including 39-year-old Akil Heywood, were arrested in connection with the kidnapping. Heywood had reportedly invested $740,000 with Pleterski, which he claimed to have lost.
Pleterski’s arrest underscores the growing scrutiny of fraudulent activities within the cryptocurrency space and the legal consequences for those involved. The investigation into his financial dealings continues, as authorities aim to bring justice to the defrauded investors.