Young Canadian Crypto Trader Being Sued For Defrauding

Deribit Hacker Starts Transferring Stolen ETH Via Tornado Cash
  • The Ontario man has had $2 million worth of property seized by the authorities.
  • About 140 investors have come forward with information to help in the case.

Canadian trader and self-proclaimed “Crypto King” Aiden Pleterski, age 23, is being sued for failing to repay at least $35 million to investors. The Ontario man has had $2 million worth of property taken by the authorities, including two McLarens, two BMWs, and a Lamborghini.

In his company, AP Private Equity Limited, which he controlled, Pleterski assured clients that they would make substantial profits by investing in his ability to make profitable cryptocurrency and foreign exchange deals.

Creditors such as Diane Moore, who had originally set aside $60,000 for the higher education of her grandkids, instead invested the money. Pleterski agreed to give her 70% of whatever profits he made as a trader and to give her money back in full if things went south. The biweekly returns guaranteed under the contract were anywhere between 10% and 20%. Unfortunately, just $10,000 of that original capital is still in play.

Global Accounts Freezed

Moore is now uncertain as to whether Pleterski ever really traded or if he stole investors on purpose with his investment strategy. She has joined the ranks of the other 29 creditors suing Pleterski for $13 million in a bankruptcy case.

Another investor, claiming a loss of $4.5 million, has taken legal action against the “Crypto King” in the form of a Mareva injunction. This effectively places a global freeze on all of Pleterski’s assets and financial accounts.

About 140 investors have come forward with information to help fraud recovery Law Company founder Norman Groot in his investigation of the trader. He discovered that Pleterski had an extravagant lifestyle, with 11 cars, a private plane, and a $45,000-a-month house on a lake in Burlington, Ontario.

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