Arrested the “Crypto King” of Canada: $30 million Ponzi scheme
The post Arrested the “Crypto King” of Canada: $30 million Ponzi scheme appeared on BitcoinEthereumNews.com.
Aiden Pleterski, a 25-year-old Canadian self-proclaimed “Crypto King”, has been arrested along with his 27-year-old associate, Colin Murphy. The two are accused of defrauding investors for a total of 40 million Canadian dollars, approximately 30 million US dollars, through an alleged Ponzi scheme related to investments in cryptocurrencies and the foreign exchange market. Crypto King: The investigation into the alleged $30 million Ponzi scheme The investigation, named Project Swan, was conducted by Canadian authorities for over 16 months and led to the charges of fraud and money laundering against Pleterski and Murphy. Data in hand: between 2021 and 2022, Pleterski and his company, AP Private Equity Limited, raised about 40 million Canadian dollars from around 160 investors, promising profitable investments in cryptocurrencies and exchanges. Over $16 million of investors’ money spent on luxury items According to court documents and local media reports, only 2% of the funds have actually been invested! while at least 16 million dollars have been spent by Pleterski to satisfy needs, or perhaps it is more accurate to speak of strictly personal vices. The expenses of the young man indeed included the purchase of over 10 luxury cars, international trips, and the rental of a lakefront villa worth 8.4 million dollars at 45,000 dollars per month. During the bankruptcy process, two McLarens, two BMWs, and a Lamborghini were seized. Pleterski, also known as a streamer, had documented many of his purchases and vacations through online videos. In one of the videos, Pleterski films himself while assembling a Lego model of the Titanic, then stating that he has spent about 150,000 dollars on Lego sets since 2021. The kidnapping of the Crypto King for the Ponzi scheme against Canadian investors Another important piece of the puzzle must be added to this story in order to have a…
Filed under: News - @ May 16, 2024 7:18 pm