Ontario’s so-called ‘Crypto King’ soliciting investments as recently as February: police

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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.

Investigators made the comment during a news conference on Thursday afternoon as they released new details about “Project Swan,” a 16-month investigation into Pleterski.

“As of February 2024, it appeared that he may have been soliciting further investors so this is why we’re having this press conference today,” Stephen Henkel, a senior investigator with the Ontario Securities Commission, said.

The news conference came just days after the 25-year-old was arrested and charged with fraud over $5,000 and money laundering, on Tuesday.

Pleterski was subsequently released on a $100,000 bail with his parents acting as sureties.

Four days earlier, one of Pleterski’s associates, Colin Murphy, 27, surrendered himself to authorities and was 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.

Durham police were tight lipped, due to a publication ban, on details pertaining to how many victims came forward and how much money was lost. But they said investigators spoke to a “large number” of victims, conducted over 40 court orders to gather evidence, and analyzed thousands of financial documents.

Henkel did say that neither Pleterski or Murphy were registered with the OSC in any capacity.

“This means they are not permitted to engage in the business of trading securities or providing investment advice,” he said.

This is a breaking news story. More details to come.