A 23-year-old self-proclaimed ‘Crypto King’ from Canada is accused of running off with the money of more than 150 victims. The man would invest their money in cryptocurrencies and foreign exchange. Now it turns out that he mainly pampered himself. He showed off a Lamborghini and two McLarens, flew a private jet, bought expensive watches and rented a luxury house.
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The accused is called Aiden Pleterski, lives in Whitby, Ontario and is only 23 years old. The young man started investing in crypto coins as early as the age of 16 in 2015. In a sponsored article in the business magazine ‘Forbes’, he explained earlier this year that he came into contact with cryptocurrencies while playing video games. He said he quickly felt at home in that world, and saw the enormous potential of an early investment in bitcoin.
Something must have gone wrong, because investors who entrusted him with their money in recent years have now sued the twenty-something. He himself led a gaudy life and took it out on social media.
Two McLarens and a Lambo
Aiden Pleterski (23) owned 11 luxury cars including a Lamborghini Huracan, two McLarens and two BMWs, rented a few more, flew around the world on private jets and rented a luxurious lakeside mansion for 45,000 Canadian dollars (34,000 euros) a month . He also turned out to be in possession of five or six very expensive watches, with a value between 200,000 and 400,000 Canadian dollars (between 150,000 and 300,000 euros).
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According to Canadian media, there are more than 150 victims and 35 million Canadian dollars (26 million euros) have disappeared. Until now only 2 million Canadian dollars (1.5 million euros) could be traced.
10 to 20 percent every two weeks
“The whole thing was based on trust,” said Diane Moore (65), one of the victims. “What Aiden has done is terrible. I don’t understand how he can live with himself.” The woman had agreed with Pleterski that he could keep 30 percent of the profits he made with her money. The other 70 percent was for her.
Diane Moore (65) trusted the twenty-something $ 60,000 (45,000 euros), which was intended for the education of her children. Pleterski guaranteed her a yield of 10 to 20 percent every two weeks. In addition, she received a guarantee that she would get her initial investment back in full if something went wrong.
The young man would have collected most of the money quickly. Most investors were tempted by word of mouth. They invested $25,000, $50,000, or $100,000 and trusted the twenty-something completely. He claims that he drafted his contracts via text message. He even got some of the money in cash.
According to Norman Groot, founder of ‘Investigation Counsel PC’, which represents most of the victims, the money was raised at a time when the value of bitcoin and other cryptocurrencies was skyrocketing. When many cryptocurrencies started to decline in value since the peak late last year, the victims asked for their money back, but the twenty-something was unable to deliver on that promise.
In August, ‘AP Private Equity Limited’, the investment company of the twenty-something, was declared bankrupt. The court managed to recover two million dollars, in addition to the many seizures. The investigation that hopes to recover the rest of the money is still ongoing.
But Aiden Pleterski (23) turns out to have never kept accounts. When asked about it, he said in court that he was “very disorganized”. When asked why he kept investing money even though he couldn’t pay back his customers, he gave the excuse that he was “only 20 years old”.
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