- A 23-year-old Canadian trader, Aiden Pleterski, who called himself ‘Crypto King’ got accused of failing to return ~$35M to his investors.
Pleterski’s Luxury Car Collection
According to the news reports, Pleterski owns two McLarens, two BMWs, and a Lamborghini. And approximately $2 million worth of assets were seized from him from Whitby, Ont., as his investors try to recoup millions of dollars they handed over to him Pleterski has a business named AP Private Equity Limited, and with the help of this, he promised to generate high returns for investors via well-timed crypto and Forex trades.
Lender List
One of the Lenders, Diane Moore invested $60,000, which she earmarked for her grandchildren’s education. Along with her investment, she made an agreement with Pleterski that included a promise for 70% of any capital gains produced by the trader, and a full return of her initial investment if things went south. The contract promised roughly 10 to 20% biweekly returns. Despite that, only $10,000 of that initial investment remains.
Diane Moore said in her statement “The whole thing was based on trust. What Aiden has done, I think, is awful — and I don’t know how he can live with himself.” One other investor also came with a claim of a loss of $4.5M.
According to Norman Groot, Founder of a Fraud Recovery Law Firm, Pleterski lived a luxurious lifestyle and owned 11 vehicles, a private jet, and a lakefront mansion in Burlington, Ontario rented for $45,000 per month. He added in his statement “This guy had a large lifestyle burn rate, but it doesn’t account for the amount of money that’s missing.”
On the other hand, the lawyer of Pleterski lawyer told Micheal Simaan CBC that creditors’ claims against the trader have been “wildly exaggerated.” Simaan wrote “Shockingly, it seems that nobody bothered to consider what would happen if the cryptocurrency market plummeted or whether Aiden, as a very young man, was qualified to handle these types of investments.”
Source: https://www.thecoinrepublic.com/2022/09/27/this-crypto-king-have-luxury-cars-collection-but-got-seized/