Canadian authorities have charged Aiden Pleterski, a self-proclaimed “crypto king” and social media influencer, with fraud and money laundering following a thorough investigation. Additionally, his associate, Colin Murphy, has also been charged with fraud. The Ontario Securities Commission (OSC) and the police made this announcement.
Pleterski was taken into custody on May 14 but was released on the same day after his parents posted a bail of CAD 100,000 ($73,666). Murphy has been charged for soliciting investments and falsely claiming to generate substantial weekly profits through intelligent investments. He has been released with a promise to appear in court.
The criminal offense of fraud involving amounts exceeding CAD 5,000 can result in a maximum prison sentence of 14 years. At a press conference on May 16, the Durham Regional Police Service and the OSC refrained from disclosing specific financial details related to the charges due to a publication ban. However, they did reveal 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 filed a lawsuit against them for fraud three months prior. In August of the same year, Pleterski and his company were declared bankrupt. The bankruptcy trustee discovered that Pleterski had raised CAD 41.5 million and had only invested 1.6% of that amount. He had spent CAD 15.9 million on personal luxuries, including multiple high-end vehicles, a mansion rental, and private jet rentals.
Despite his bankruptcy and the trustee’s requests for his incarceration, Pleterski continued to live a lavish lifestyle. He alleged that he was kidnapped and subjected to torture by an investor and his associates in December 2022, which led to five arrests by the Toronto police in July 2023.
Even after facing legal troubles, Pleterski maintained a jet-set lifestyle. However, the authorities have finally caught up with him, and he now faces serious charges.