June 25, 2024

A man self-styled as the “Crypto King” and his associate are now facing fraud charges. They are allegedly the brains behind a Ponzi scheme that wreaked havoc on investors, causing an estimated loss of $40 million.

![Aiden Pleterski allegedly took in $41.5 million from investors but only invested a fraction.](https://investmentshoax.com/wp-content/uploads/2024/05/Screenshot-2023-03-27-151907-e1679944835985.png)

Following a 16-month probe initialized in 2022, the Durham Regional Police have charged Aiden Pleterski with fraud in excess of $5000 and money laundering. This information was disclosed in a statement released Wednesday by the police.

Pleterski, 25, however, has enjoyed a high life, allegedly squandering investors’ fortune. He was reported to have been apprehended on May 2 and subsequently vacated on $100,000 bail by his parents, Dragan and Kathy Pleterski.

While out on bail, Pleterski, who was renting a lakeside mansion in Burlington at $45,000 monthly in 2022 fall, has been directed by court to live with his parents in Whitby. He was also ordered to surrender his passport and prohibited from leaving Ontario.

The Police also stated that another individual associated with Pleterski was arrested. This individual also falsely claimed to make hefty profits through smart investments.

This case reminds investors to make careful investment decisions to avoid falling into fraudulent schemes.

**Frequently Asked Questions**

Who is the ‘Crypto King’?

Aiden Pleterski, a 25-year-old man from Whitby, Ontario, is the self-proclaimed ‘Crypto King’. He is currently facing charges for running a Ponzi Scheme in which he allegedly defrauded investors for around $40 million.

What is a Ponzi Scheme?

A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. Investors in the scheme are led to believe profits come from legitimate business activities; instead, they come from funds paid by newer investors.

How can investors avoid getting defrauded?

Investors can protect themselves from potential fraud by conducting thorough due diligence, understanding the nature of prospective investments, and being wary of investments offering high returns with little to no risk. Consulting with licensed financial advisors and better understanding investments can also help prevent fraud.Colin Pleterski, otherwise known as the ‘Crypto King’, alongside his co-worker, Colin Murphy, was apprehended by detectives from New York and Oshawa. The two young men are facing accusations related to a cryptocurrency investment scam that entailed extracting virtually $30 million from investors.

The Durham Regional Police Service Fraud Unit in partnership with the Economic Crimes Unit of the New York City Police Department conducted a year-long cross-border inquiry that led to the arrests. The Wellington Street West courtroom in Oshawa saw the two arrested individuals present, as of July 10, 2023.

Colin Pleterski—the ‘Crypto King’ himself—has been linked to accusations of fraud amounting to more than $5,000 and conspiracy to carry out fraud for over $5,000. The 27-year-old Oshawa youth is due back in court in September.

Pleterski is a notorious figure concerning financial matters, having previously been associated with a lavish lifestyle, a multi-million-dollar bankruptcy, and a kidnapping incident wherein his abductors purportedly demanded a $3 million ransom in exchange for his liberation.

On the other hand, Colin Murphy, also 27 years old and hailing from Oshawa, has been charged with fraud over $5,000. Murphy was handed an undertaking and subsequently released. The charges pinned against Pleterski and Murphy remain untested in court.

The police investigation, labeled ‘Project Swan,’ will disclose additional details at a media briefing scheduled for noon on Thursday in Whitby.

#### Frequently Asked Questions

##### Who is Colin Pleterski?
Colin Pleterski is a 27-year-old young man from Oshawa who has been labelled as the ‘Crypto King’. He is known for his excessive lifestyle and made headlines due to his involvement in a multi-million-dollar bankruptcy and a high-profile kidnapping case.

##### What were the charges against Colin Pleterski and Colin Murphy?
Both Colin Pleterski and Colin Murphy were charged with fraud over $5,000. Further, Pleterski was also charged with the conspiracy to commit fraud over $5,000. However, the allegations against both individuals have not been proven in court.

##### What is ‘Project Swan’?
‘Project Swan’ is an investigation carried out by the Durham Regional Police Service Fraud Unit in collaboration with the Economic Crimes Unit of the New York City Police Department. The operation aimed to probe the allegations of a cryptocurrency investment scam involving Pleterski and Murphy.