Aiden Pleterski, known as the self-proclaimed “Crypto King,” is currently facing criminal fraud charges in Canada. The charges stem from a 16-month investigation conducted jointly by the Ontario Securities Commission and Durham Regional Police under Project Swan.

Pleterski, hailing from Whitby, Ontario, has been charged with one count of fraud over $5,000 and one count of laundering proceeds of Canadian crime. Additionally, Colin Murphy from Oshawa, Ontario, faces one count of fraud over $5,000. The investigation revealed that victims entrusted money to Pleterski under the belief that he would generate substantial profits through investments on their behalf. However, these individuals were defrauded and unable to recover their funds.

The investigation, initiated in July 2022 following multiple complaints about investment fraud involving a male from Whitby, exposed a scheme where victims were promised high returns on their investments but ended up being deceived. Further details regarding the case are expected to be disclosed following a scheduled news conference.

The collaborative efforts of various law enforcement agencies, including the OSC Enforcement branch and Durham Regional Police force’s financial crimes unit, aided in uncovering the fraudulent activities. It is imperative for individuals to exercise caution when engaging in financial transactions and seek proper due diligence to avoid falling victim to scams in the burgeoning cryptocurrency landscape.