New lawsuits in the case of Aiden Pleterski – the self-proclaimed “Crypto King” of Canada – reveal previously undisclosed details of his abduction and torture – which took place over three days in December 2022 as a result of a botched crypto investment scheme.
crypto king
Pleterski, once touted as the “Crypto King” by his associates, has been accused of misleading investors by promising investments in cryptocurrency and foreign exchange.
In a bankruptcy trustee report filed earlier this year, Pleterski allegedly raised a whopping $41.5 million from investors.
Pleterski’s investment activity, however, fell remarkably short of expectations — including bank records showing he had invested just $670,000, according to recently released court documents.
According to the findings, Pleterski spent nearly 38% of the money raised — amounting to about $16 million — on personal expenses, including renting private jets, taking extravagant vacations and purchasing luxury 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 across Southern Ontario. The trustee’s report further reveals that Pleterski’s landlord received a ransom demand demanding $3 million for his release, in which Pleterski allegedly begged the man, saying his physical life was in danger.
According to court documents, Pleterski was released by his prisoners after three days.
In the March 16 bankruptcy filings, the documents state that only $25 million in creditors have come forward — indicating that those who had invested the other $16 million may be seeking repayment in some other way.
In a statement to the Bankruptcy and Insolvency Court of Ontario, Pleterski said of his failed investment plan:
“You could say greed took over, and I was taking very aggressive positions, and I was trying to get returns that were clearly not achievable or not necessarily possible at the time, and it just caused more losses.”
The Ontario post-court documents detail kidnapping, ransoming, and torture of $41 million crypto scammer appeared first on CryptoSlate.
