Canadian police are charging self-declared “crypto king” and social media personality Aiden Pleterski with one count of fraud over 5,000 Canadian dollars ($3,666) and money laundering after a lengthy investigation. His associate, Colin Murphy, was also charged with fraud, police and the Ontario Securities Commission (OSC) have announced.Pleterski was arrested on May 14 and freed on the same day on 100,000-CAD bail provided by his parents. Murphy faces the charge against him for soliciting investments and falsely claiming to receive “large weekly profits through savvy investments.” Murphy was released on a promise to appear in court.Related: Canadian police warn crypto investors on growing home robbery trendFraud in amounts over 5,000 CAD is punishable by up to 14 years’ imprisonment. The Durham Regional Police Service and OSC declined to disclose financial details behind their charges at a press conference on May 16, citing a publication ban, but said his fraudulent activities had possibly continued through February 2024.Police began their investigation of Pleterski and his company, AP Private Equity, in July 2022 after numerous complaints. Durham Police chief Peter Moreira was quoted in the press as saying:An investor had sued them for fraud three months earlier. Pleterski and his company were declared bankrupt in August of that year, and the bankruptcy trustee found that Pleterski had raised 41.5 million CAD and invested 1.6% of that sum. He spent 15.9 million CAD on personal perks, including a Lamborghini, two McLarens, two BMW automobiles, rentals of a mansion and private jets.Pleterski continued to lead a jet-set lifestyle in spite of his bankruptcy and the trustee’s requests that he be jailed. He claimed he was kidnapped and tortured by an investor and his accomplices in December 2022, leading to five arrests by police in Toronto in July 2023. Magazine: Your guide to crypto in Toronto: Crypto City
