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Ontario court documents describe kidnap, ransom, torture of $41M crypto scammer Ontario court documents describe kidnap, ransom, torture of $41M crypto scammer

Ontario court documents describe kidnap, ransom, torture of $41M crypto scammer

Extravagant spending by Aiden Pleterski occurred after the accused raised $41 million to fund a non-existent crypto investment fund.

Ontario court documents describe kidnap, ransom, torture of $41M crypto scammer

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

New court filings in the case of Aiden Pleterski โ€” the self-proclaimed ‘Crypto King’ of Canada โ€” reveal previously undisclosed details of his kidnapping and torture โ€” which occurred over three days December 2022 as a result of a botched crypto investment scheme.

Crypto King

Pleterski, once touted as the “Crypto King” by his associates, is being accused of misleading investors by promising investments in cryptocurrency and foreign exchange.

In a bankruptcy trustee report filed earlier this year, Pleterski is said to have raised a staggering $41.5 million from investors.

However, Pleterski’s investment activities fell notably short of expectations โ€” including banking details showing that he only invested $670,000, according to newly released court documents.

According to the findings, Pleterski expended nearly 38% of the funds raised โ€” amounting to roughly $16 million โ€” on personal expenses including private jet rentals, extravagant vacations and the acquisition of high-end cars.

Kidnapping, Torture and Ransom

Pleterski’s father testified to the trustee that his son was kidnapped in the middle of the night and subjected to brutal torture and beatings during his three-day captivity while being driven around Southern Ontario. The trustee’s report further reveals that Pleterski’s landlord received a ransom call demanding $3 million for his release, in which Pleterski allegedly pleaded with the man and said that his physical life was in danger.

After three days, court documents say Pleterski was released by his captives.

In the bankruptcy filings dated March 16, the documents state that only $25 million in creditors have come forward โ€”indicating that those who had invested the other $16 million may be seeking repayment via other means.

In a statement given to the bankruptcy and insolvency court of Ontario, Pleterski said of his failed investment scheme:

“I guess you could say greed took over, and I was taking very aggressive positions, and I was trying to make returns that obviously weren’t feasible or weren’t necessarily possible at the time, and it just caused more losses.”

Posted In: , Crime, Legal, Scams