In December 2022, 25-year-old Aiden Pleterski was abducted in downtown Toronto during the night.
The self-proclaimed “Crypto King” was released after three days, but only after allegedly being coerced to raise money quickly, according to court documents.
“I’m sorry, I really am, I didn’t want to or mean to ruin anyone’s life,” a battered and bruised Mr Pleterski is seen saying in a video obtained by CBC News. His lawyer later clarified that the video was recorded during the kidnapping.
This incident was not the first or last trouble for the young Canadian man, who marketed himself as a crypto expert promising lucrative investments.
Recently, after a 16-month investigation, Ontario police and the provincial securities commission charged Mr Pleterski with fraud over C$5,000 ($3,600; £2,900) and laundering the proceeds of crime. Another man, Colin Murphy, 27, described as Mr Pleterski’s associate, was also charged.
Dubbed “Project Swan,” the investigation is believed to be the largest fraud case in the region’s history, according to Durham Regional Police Chief Peter Moreira.
Authorities disclosed that Mr Pleterski was not registered with any Canadian securities regulator “in any capacity,” according to Stephen Henkel of the Ontario Securities Commission.
The charges were announced amid ongoing bankruptcy proceedings revealing Mr Pleterski raised approximately C$41.5 million from investors, promising investments in cryptocurrency and foreign markets.
However, he reportedly invested only 1.6% of that sum, spending millions on luxury cars, private jet flights, and lakefront mansions, according to court documents.
Mr Pleterski, who began exploring cryptocurrency while still in high school, attracted attention on social media for his lavish lifestyle and luxury purchases.
By 2020, Mr Pleterski was investing, starting with funds from family members and earnings as a baseball umpire.
By December of that year, he moved into a C$9,000-per-month rental home, and a few months later, into a multi-million dollar mansion in Burlington, south of Toronto.
Despite his parents’ investment of C$50,000, Mr Pleterski is facing multiple lawsuits from investors who claim he misused their funds. His assets were frozen in July 2023, and he and his company were declared bankrupt in August.
Last summer, Toronto police arrested five suspects on kidnapping for ransom and other charges, related to Mr Pleterski’s alleged abduction.
Canadian NBA star Shai Gilgeous-Alexander and his partner Hailey Summers, who purchased Mr Pleterski’s mansion, reported threats and attempted break-ins.
Mr Pleterski made a public statement on Instagram thanking his supporters amidst the ongoing legal challenges.
None of the allegations against Mr Pleterski have been proven in court.
