Fraud case involving ‘Crypto King’ largest in Durham’s history: police

The Durham Regional Police Service shared details on the arrest of 25-year-old Aiden Pleterski, the self-proclaimed Crypto King, describing the investigation as the most significant in the region’s history.

Officers held a press conference on Project Swan Thursday, which detailed the investigation into Pleterski and his alleged accomplice, 27-year-old Colin Murphy of Oshawa.

Police confirmed that Pleterski, who was taken into custody on May 12, was allegedly soliciting investors as recently as February. His charges include fraud over $5,000 and laundering proceeds of crime.

“A lot of lives have been devastated by this,” said Financial Crimes Unit detective David Jaciuk. “It’s very emotional for individuals.”

In July 2022, Durham Regional Police began receiving complaints about investment fraud involving a man from the Whitby area, alleged to be Pleterski. Over 16 months, investigators from the Financial Crimes Unit authored over 40 court orders and gathered evidence.

Fraud case involving ‘Crypto King’ largest in Durham’s history: police

Durham police have made arrests in the region’s largest fraud case. As Tina Yazdani explains, the two individuals charged includes Ontario’s self-proclaimed ‘Crypto King’, who investigators believe defrauded $40 million from over 300 victims.

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A DRPS spokesperson said that approximately $40 million was fraudulently obtained through the Crypto King from over 300 victims across Ontario. According to court documents obtained by CityNews, Pleterski raised roughly $41.5 million from investors but invested only 1.6 per cent of that money.

“Mr. Pleterski claimed to be an extremely profitable investor in foreign exchange in cryptocurrency,” said Durham Regional Police Chief Peter Moreira.

It’s alleged that the self-proclaimed Crypto King used investor funds to purchase luxury vehicles, including McLarens, Lamborghinis, Audis, and BMWs. The trustee report said about $431,000 had been recovered from his bank accounts.

Through the investigation, authorities also became aware of Murphy’s involvement in the alleged financial scam. On May 10, he was arrested in Whitby and charged with fraud.

Neither Pleterski nor Murphy was registered with the Ontario Securities Commission.