The Durham Regional Police Service shared details on the arrest of 25-year-old Aiden Pleterski, the self-proclaimed Crypto King, describing the investigation as the most significant in the region’s history while revealing he allegedly tried to solicit investments as recently as February.
Officers held a press conference on Project Swan, which detailed the investigation into Pleterski and his alleged accomplice, 27-year-old Colin Murphy of Oshawa.
Police confirmed that Pleterski, who was taken into custody on May 12, was soliciting investors as recently as February. His charges include fraud over $5,000 and laundering proceeds of crime.
In July 2022, Durham Regional Police began receiving complaints about investment fraud involving a man from the Whitby area, later confirmed to be Pleterski. Over 16 months, investigators from the Financial Crimes Unit authored over 40 court orders and gathered evidence.
A DRPS spokesperson said that approximately $40 million was fraudulently obtained through the Crypto King from over 300 victims across Ontario. According to court documents obtained by CityNews, Pleterski raised roughly $41.5 million from investors but invested only 1.6 per cent of that money.
It’s believed that Pleterski used investor funds to purchase luxury vehicles, including McLarens, Lamborghinis, Audis, and BMWs. The trustee report said about $431,000 had been recovered from his bank accounts.
Through the investigation, authorities also became aware of Murphy’s involvement in the alleged financial scam. On May 10, he was arrested in Whitby and charged with fraud over.