Aiden Pleterski, a 23-year-old Canadian crypto king, is accused of scamming investors out of $29 million. Most of the money was used to finance a luxurious lifestyle, including buying a private jet, a fleet of flashy cars, and going on extravagant vacations. Pleterski is currently going through bankruptcy proceedings, and authorities are trying to recover the funds.
A Pleterski family tragedy: Father kidnapped and tortured for ransom.
In December 2021, a late-night call demanding $3 million Canadian in ransom led to the kidnapping of Pleterski’s father. He was allegedly beaten and tortured before being released with a warning to come up with the money quickly.
As of now, no suspects have been revealed and Toronto police have not released any information on the suspected kidnapper or any arrests made. This has been a tragic event for the Pleterski family.
According to attorney Norman Groot, who is representing some of the victims of the Pleterski scam, the $29 million may just be the beginning of what the con artist owes investors. Pleterski is characterized as having run a Ponzi scheme, with investments made by some clients allegedly used to create fake returns for others.
Pleterski is alleged to have invested just about $485,000, or less than two percent of the total funds at hand, and spent approximately $362,000 on a warehouse where he stored the remaining cash.
His parents also benefited from their son’s scheme, allegedly receiving over $1.1 million, and have agreed to return an Audi S5 and a Volkswagen Atlas, with a market value in excess of $100,000, to the trustee. They will also fork over $812,000 by June 30, in cooperation with the bankruptcy trustee.