- Aiden Pleterski, the self-proclaimed “King of Cryptocurrencies,” has $2 million in assets seized, according to CBC Toronto.
- Pleterski reportedly received $35 million from 140 investors.
- Now, he is being sued by former investors in bankruptcy proceedings and two civil lawsuits.
A 23-year-old Canadian who calls himself the “King of Cryptocurrencies” has reportedly been indicted for allegedly defrauding investors, with assets worth $2 million seized.
Assets seized by the man, Aiden Pleterski, included his Lamborghini, two McLarens and two BMWs. CBC Toronto first reported.
Investors told the publication that at least $35 million given to Pleterski’s company AP Private Equity Limited is missing.twenty-nine creditors bankruptcy proceedings against Plettsky and said he owed them nearly $13 million, including a 65 year old woman She told CBC Toronto that she invested $60,000 in the education of her grandchildren.
Norman Groot, founder of Investigation Counsel PC, tell CBC Toronto The bankruptcy proceedings against Pleterski, who started investing in cryptocurrencies as a teenager, are one of the only ways Investors can try to get their money back.
Pleterski has since owned his assets and bank Account freezeaccording to reports.
Pletsky is reportedly renting a lakefront mansion in Burlington, Ontario. He spent $45,000 a month, and previously paid for promotional articles about himself on the site such as Forbes publications in Monacoand the far right publication daily caller.
Pletsky’s attorney tell CBC Toronto Pleterski believes the allegations against him by former investors are “overblown.”
“It’s shocking that no one seems to bother to think about what would happen if the cryptocurrency market plunged, or whether Aiden, as a very young person, was qualified to handle these types of investments,” said Pleterski’s attorney Micheal Simaan, tell CBC Toronto. He added that Plettsky “is cooperating with the bankruptcy process and hopes that it will deal with all involved in the fairest manner.”
Insider reached out to Pleterski’s attorney for additional comment, but did not hear back immediately before publication.
At a meeting with creditors, Plettsky He reportedly told them “Very disorganized” and no records of his investments were kept. His trustee told creditors that Pleterski Said he lost the money According to CBC Toronto, he received “a series of margin calls and bad trades” between late 2021 and early 2022.