According to CryptoPotato, Aiden Pleterski, known as Ontario’s 'Crypto King', and his associate Colin Murphy, 27, have been arrested on charges of fraud and money laundering. The charges are related to an alleged Ponzi scheme, which is believed to have defrauded victims of approximately $30 million. The arrests followed a 16-month investigation, known as 'Project Swan', which is one of the most extensive fraud investigations the region has seen.
The investigation involved numerous victim interviews, dozens of court orders, and thousands of pages of financial documents. Pleterski has been charged with one count of fraud over $5,000 and one count of laundering proceeds of Canadian crime. The allegations against Pleterski are currently under a publication ban issued on May 14, 2024.
Stephen Henkel of the Ontario Securities Commission stated that Pleterski was not registered with any Canadian securities regulator. Authorities believe he may have been soliciting investors as recently as February 2024. However, none of the allegations against Pleterski have been proven in court, and Ontario authorities have not disclosed further details of their case.
In a separate incident, Pleterski was reportedly kidnapped, assaulted, and tortured by five individuals claiming to be his victims last year. The five suspects were arrested by Toronto police on charges of kidnapping for ransom and other offenses. Pleterski was held captive for three days and was released after he was pressured to produce a sum of money urgently. A video obtained by CBC News showed a visibly bruised and injured Pleterski apologizing and expressing regret for any harm caused. His lawyer confirmed that the video was recorded during the kidnapping ordeal.