Police are alleging that Ontario’s so-called ‘Crypto King’ Aiden Pleterski was soliciting investments as recently as February – almost two years after he was petitioned into bankruptcy for allegedly running a Ponzi scheme worth more than $40 million.
Police made the comment during a news conference on Thursday as they released new details about “Project Swan,” a 16-month investigation into Pleterski.
This is a breaking news story. Previous coverage continues below.
The details of a 16-month Durham police investigation into Ontario’s so-called ‘Crypto King’ Aiden Pleterski are set to be revealed on Thursday afternoon.
Officials with the Durham Regional Police Service are expected to speak for the first time about the 25-year-old, who allegedly ran a more than $40 million Ponzi scheme, and was recently charged with fraud over $5,000 and money laundering.
He was released on a $100,000 bail with his parents signed as sureties on Tuesday.
Police will also be providing details about the arrest of one of Pleterski’s alleged associates, Colin Murphy, 27, who has been charged with fraud over $5,000 in connection with the missing investments.
Investors have previously alleged in a civil action against Murphy that he operated a Ponzi scheme parallel to Pleterski’s alleged scheme.
Investigators first began receiving calls about a man in Whitby, Ont., running an investment fraud operation in July 2022, according to Durham police.
At the time, Pleterski had been projecting five to seven per cent gains per week for investors while appearing to live a lavish lifestyle on social media, driving a fluorescent McLaren and lounging on a private jet, according to court documents filed as part of bankruptcy proceedings.
But of the $40-million Pleterski was allegedly handed over two years, the bankruptcy documents show he invested just 1.6 per cent and spent $15.9 million on “his personal lifestyle.”
He lived a life of luxury while collecting investments from July 2020 to 2022, the documents suggest. Even after he was petitioned into bankruptcy by hundreds of investors, he still jet set to London, Miami and Sydney in recent month, images posted to social media accounts belonging to Pleterski showed.
Until this point, his travels and spending have not been interrupted. But now, his bail conditions require him to reside at his parents home in Whitby. He is restricted from leaving Ontario, and was required to hand in his passport to Durham police.
Pleterski is also prohibited from contacting his associates or investors, possessing a debit or credit card, along with posting on social media about financial matters.
Anyone with new information is asked to contact Det. Jaciuk of the Financial Crimes Unit at 1-888-579-1520 ext. 5353 or the Ontario Security Commissions at 1-877-785-1555.