Canadian Police Report: Self-Proclaimed "Crypto King" Arrested for Alleged Fraud

Police in the Toronto area of Canada have announced the arrest and indictment of a man who calls himself the "Crypto King," alleging he is involved in an investment fraud worth millions of dollars.

The Durham Regional Police in Toronto stated that 25-year-old Aiden Pleterski has been charged with fraud exceeding $5,000 and money laundering.

Police reported that they began receiving complaints in July 2022 regarding an investment fraud scheme that promised substantial profits through "shrewd investments."

They claim that Pleterski, from Ontario, and a 27-year-old accomplice were involved in this scheme.

Data indicates that Pleterski allegedly raised $41.5 million from investors but only invested 1.6% of the funds, spending $15.9 million on vehicles, private jet rentals, and other luxury items, and paid similar amounts to investors to simulate returns.

Trustee reports indicate that approximately $431,000 has been recovered from his bank accounts.

Durham police and the Ontario Securities Commission have announced a press conference for Thursday, where more details will be revealed.