New details of ‘Crypto king’ scheme after investors out millions – Reuters

A self-proclaimed “crypto king” from Ontario was living a lavish life — driving a lime-green Lamborghini and cruising on a multi-tiered yacht — before an investor claimed the 23-year-old scammed him out of millions.

Legal documents obtained by CTV News Toronto detail the months leading up to when 150 investors filed for Aiden Pleterski’s bankruptcy, reveal that domestic violence charges had already been filed against him, then dropped, and ultimately pose the question: where did all the money go?

WHAT IS ALLEGED?

The lawsuit against Pleterski began with a single plaintiff – Sacha Amar Dario Singh, a licensed real estate agent in Toronto.

Since then, the money owed to investors has reportedly reached at least $35 million.

“The numbers in reality could be a bit higher,” Norman Groot, a fraud recovery lawyer representing 150 investors who handed over money to Pletersk, told CTV News Toronto.

From April 2021 to January 2022, Singh invested $4.6 million in Pleterski’s company, AP Private Equity Limited, pursuant to a Mareva injunction, which Ontario Superior Court Justice Phillip Sutherland , granted in July.

The Mareva injunction was an “extraordinary measure” that effectively froze Pleterski’s assets and put him out of business.

On several occasions, CTV News Toronto contacted Pleterski’s attorney, but no response was received.

“My client, who invested in Aiden and was reassured that the investments had reached approximately $33 million, was promised that this money was available to him and promised that he could withdraw the money or obtain payments and that these premises were not completely filled. Tanya Walker, who represents Singh and company, told CTV News Toronto.

“Small payments were made to my client, very small compared to what he invested.”

A written contract, drafted by Pleterski, promised Singh a 70-30% capital gains split as well as a bi-weekly growth target of 10-20% on his investments.

By then, Pleterski had acquired a reputation for his “superior business ability”, according to the injunction.

Aiden Pleterski is seen in a photo previously posted on social media. Court documents indicate that Pleterski agreed to repay the entire initial investment if any investments were lost. The terms also specified that investors could withdraw any amount of their capital gains and Pleterski would provide it within three business days.

In February – nearly a year after Singh was introduced to Pleterski – he began asking for installments of $1 million, $300,000 and $3.5 million over a month-long period in order to meet its financial obligations.

But Pleterski told him he was having trouble withdrawing funds, according to court documents.

Two months later, one of Pleterski’s associates showed Singh screenshots and a video of an account statement at FXChoice, a trading company based in Belize, with funds worth more than $311 million in the name of AP Equity as well as more than $1.4 million in Pleterski’s personal account. , according to the injunction.

“My client contacted one of the institutions. He was worried that it wasn’t true, that it might be a fabricated screenshot,” Walker said.

When Singh spoke to FXChoice in May, they said Pleterski and his company had no accounts containing those funds, the legal documents show.

FXChoice did not respond to requests for comment from CTV News Toronto.

WHAT DO WE KNOW ABOUT AIDEN PLETERSKI?

In the spring of 2021, Pleterski’s Instagram account began depicting a lavish lifestyle.

He published stories of frequent trips to Miami, cruising on a multi-level yacht and pulling up a jet in a lime-green Lamborghini.

It was around this time, June 9, 2021, that domestic violence charges were filed against Pleterski in Florida.

New Details of 'Crypto King' Program After Investors Exit MillionsAiden Pleterski is seen in a shared photo. He is seen in a mug shot taken in Florida (left) and an image posted to social media (right). Mya Trentadue alleged that Pleterski, her boyfriend of about a year, started a verbal altercation with her when she discovered content on her Instagram, according to an affidavit filed in Winter Haven, Florida.

Deputy Zachary Eason noted there were several red scratches on Trentadue’s collarbone and left bicep when he arrived at a residence in Davenport, Fla., south of Orlando.

“The suspect intentionally grabbed the front of the victim’s shirt with both hands and started yelling at him. This intentional violence was against the will of the victim,” Eason wrote in the affidavit.

The document goes on to say that Pleterski restrained his girlfriend by grabbing and pushing her away from the front door when she tried to leave. For 30 minutes he stood by the door refusing to budge, according to the record.

“The victim said she did not feel free to leave during this time,” the affidavit reads.

The prosecution later indicated on June 22 that it would not pursue the charges.

CTV News Toronto contacted Trentadue several times but received no response.

AND NOW?

The fraud recovery lawyer representing the 150 investors who handed over money to Pleterski told CTV News Toronto that everyone he spoke to believed the 23-year-old was actually trading foreign exchange or of cryptocurrency.

“Whereas in reality it seems like very little or none of this actually happened,” Groot said.

New Details of 'Crypto King' Program After Investors Exit MillionsAiden Pleterski is seen in an undated photo posted on FilmFreeway.Groot is spearheading an effort to trace a collective $20 million allegedly owed to his clients. So far, trustees in bankruptcy have only been able to recover about $2 million of Pleterski’s assets.

“Initially when this all started…there was a small amount of trading, but most of the money received was never traded. This is our understanding. We haven’t seen any commercial records,” he said. “These are investments made on a blind form of faith.”

Three months after Singh attempted to withdraw funds from his investments, he still did not have the requested money. He planned to meet Pleterski for lunch on June 18. Pleterski said he would send Singh $50,000 as an act of good faith to prove he intended to return the funds.

But, Singh says Pleterski canceled lunch and only transferred $10,000.

A few days after they planned to meet, Singh says he heard that Pleterski was selling his luxury cars and removing a bank safe from a rental warehouse.

“Singh states that Aiden is taking steps to dissipate, sell or hide his assets in order to prevent any creditors from acquiring said assets. This includes expensive vehicles such as [as] Lamborghinis, Audis, Ferraris, Land Rovers as well as cash in bank and cryptocurrency accounts in other countries, such as Belize,” the court documents read.

Since June, Singh says he hasn’t been able to reach Pleterski.

Pleterski’s trustee in bankruptcy told CTV News Toronto that he could not release the 23-year-old’s current whereabouts due to the ongoing nature of the case and his responsibility to maintain client confidentiality.

“The calls keep coming in and the information we’re getting is that the scope of this particular Ponzi scheme is a little bigger than we currently know,” Groot said.

“Given the amount the trustee recovered today, which as far as I can tell is a few million dollars, it raises questions – where did all the money go?”

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New details of ‘Crypto king’ scheme after investors out millions – Reuters


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