The self-proclaimed crypto king from Canada has his belongings seized after over 140 investors sought legal action for money owed, amounting to $35 million. So far, the seized assets still fall short of what investors claim they are owed, reported CBC.
Aiden Pleterski’s company, AP Private Equity Limited are facing at least two civil lawsuits after claims that he allegedly took millions of dollars from investors who believed that they were investing in cryptocurrency.
Pleterski’s social media boasted private jets and luxury cars, however, the Instagram account is no longer available. Some of the images used in the now unavailable Instagram account, can be seen circulating the internet.
He allegedly purchased articles on Forbes and other news outlets to associate his name to crypto investment success.
It was reported that he owned 11 cars, rented 4 other cars, flew on private jets and was paying over $45,000 a month to rent a lakefront mansion in Burlington, Ontario.
According to CBC, in a creditors meeting it was stated that Pleterski claimed that most of the money handed to him for trading in late 2021 and early 2022 was lost in “bad trades”, the claim was supposedly made with no supporting evidence. He also explained that he was unorganised and did not keep track of his finances or a record of his indebtedness or payments.
Pleterski’s lawyer said in an email to CBC, that his client disputes many of the claims against him and believes the financial claims from many people who gave him money “have been wildly exaggerated.”
In the ruling by Ontario Superior Court, an investor claimed that he was provided with statements from a cryptocurrency trading platform with over $311 million in the account of the 23-year-old’s company, however, when the investor checked with the trading platform, he was informed that the company did not an account with those funds.
The processes are lengthy and the more time that goes by, the less likely that there’s a recovery of evidence and less likely there is a recovery of money, said Norman Groot, lawyer and certified fraud examiner, as reported by CBC.
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