How a 25-year-old from Oshawa created a crypto kingdom before it all came crashing down
It’s been more than two years since the house of cards carefully crafted by Ontario’s so-called "crypto king" came crashing down in the form of a bankruptcy worth north of $40 million.
He’s been kidnapped and tortured in that time, but he’s also back to worldwide jet setting and burning rubber in extravagant sports cars without a single criminal charge in connection to the scheme restricting his movements.
Here’s a look at how these developments have unraveled and what could be coming next for the 25-year-old:
August 2022
On Aug. 9, 2022, Aiden Pleterski, a 23-year-old so-called "crypto king" from Whitby, Ont., was declared bankrupt by the Ontario Superior Court of Justice.
- Download our app to get local alerts on your device
- Get the latest local updates right to your inbox
But only $2.2 million of assets were seized, including two McLarens, two BMWs and a Lamborghini, despite allegedly owing at least $35 million to more than 150 investors.
October 2022
A bankruptcy trustee report published in October 2022 detailed Pleterski was almost arrested twice for refusing to hand over a diamond-studded Rolex, Audi and cell phone.
Aiden Pleterski is seen standing beside a Lamborghini in an image posted on social media.
Court documents allege Pleterski’s associate, 26-year-old Colin Murphy, was operating his own fraud scam parallel to the multi-million dollar Ponzi scheme.
December 2022
In early December 2022, Pleterski was allegedly abducted from downtown Toronto, tortured and beaten for about three days as his kidnappers looked to solicit millions in ransom.
Aiden Pleterski, a self-described crypto king from Whitby, Ont., is seen after a kidnapping (left) and in a prior image on a private jet (right).
July 2023
On July 17, four people were arrested for kidnapping and torturing Pleterski, including a 39-year-old Toronto man who had invested more than $740,000, court documents show. Video emerged of Pleterski apologizing to investors while battered and bruised during the kidnapping. It's unclear if he was under duress while the footage was taken or where the video was recorded.
The investor who sunk $740,000 into Pleterski’s operation and allegedly kidnapped Pleterski asserted his innocence and has been released on bail for $10,000.
Akil Heywood (left) and Aiden Pleterski (right) seen in undated photos (Supplied/ Instagram).
On July 21, a fifth suspect was charged in connection with the December kidnapping of Pleterski.
Another feeder fund that funneled $4 million to Pleterski, based in Chatham, Ont., is uncovered when a 31-year-old mother launches a class action lawsuit alleging Banknote Capital operated a close to $14 million Ponzi scheme.
Banknote Capital's Ryan Rumble (left) and self-described 'crypto king' Aiden Pleterski (right).
September 2023
Pleterski starts travelling the world on mystery money in September, venturing as far as Australia, despite his status as a bankrupt 25-year-old who allegedly operated a large scale investment scam.
December 2023
A judge rules in favour of an NBA player who bought the $8M Burlington mansion previously occupied by Pleterski after receiving threats from people looking for the so-called crypto king – ultimately nullifying the purchase of the house.
In December, an Ontario judge ordered the arrest of Pleterski’s Chatham associate, Ryan Rumble, after he refused to surrender his passport and claimed he fled to Dubai instead.
Canada's Shai Gilgeous-Alexander was named to Canada’s 12-man roster for the team’s World Cup qualifying game Thursday night against Argentina. The Oklahoma City Thunder guard is shown at the FIBA international men's World Cup basketball qualifying action against Dominican Republic, in Hamilton, Ont., Friday, July 1, 2022. THE CANADIAN PRESS/Cole Burston
February 2024
On February 2, 2024, the first criminal charge was laid in connection with Pleterski’s alleged Ponzi scheme. Colin Murphy, 27, was declared in contempt of court, and ordered to repay $120,000 to an investor.
A video presented as evidence in court showed Murphy refusing to surrender an iPhone after hiding it in a toilet caddy during a court ordered search last January.
Colin Murphy walks out of an Oshawa courthouse while W5's Avery Haines asks him questions about an upcoming sentencing.
In a W5 exclusive on Feb. 3, an investor who handed Pleterski $75,000 said she does not believe Pleterski is the mastermind orchestrating the investment scheme synonymous with his name.
CTVNews.ca Top Stories
'A beautiful soul': Funeral held for baby boy killed in wrong-way crash on Highway 401
A funeral was held on Wednesday for a three-month-old boy who died after being involved in a wrong-way crash on Highway 401 in Whitby last week.
Police handcuff man trying to enter Drake's Toronto mansion
Toronto police say a man was taken into custody outside Drake's Bridle Path mansion Wednesday afternoon after he tried to gain access to the residence.
U.S. presidential candidate RFK Jr. had a brain worm, has recovered, campaign says
Independent U.S. presidential candidate Robert F. Kennedy Jr. had a parasite in his brain more than a decade ago, but has fully recovered, his campaign said, after the New York Times reported about the ailment.
Blind Sask. boy heading to international braille competition hopes to increase accessibility for visually impaired
A Saskatchewan boy who qualified for an international braille competition in Los Angeles next month hopes he can inspire change in his home province.
'A step forward': New screening criteria for sperm donors takes effect
Canadians looking to grow their families with the assistance of sperm or egg donations should soon have more options for donors as the federal health agency does away with longstanding restrictions criticized as discriminatory.
Ontario Provincial Police arrest 64 suspects in child sexual exploitation investigation
Ontario Provincial Police say 64 suspects are facing a combined 348 charges in connection with a series of child sexual exploitation investigations that spanned the province.
What is whooping cough and should Canadians be concerned as Europe declares outbreak?
There is currently a whooping cough epidemic in Europe, with 10 times as many cases compared to the previous two years. While an outbreak has not been declared nationwide in Canada, whooping cough is regularly detected in the country.
Pfizer agrees to settle more than 10K lawsuits over Zantac cancer risk: Bloomberg News
Pfizer has agreed to settle more than 10,000 lawsuits about cancer risks related to the now discontinued heartburn drug Zantac, Bloomberg News reported on Wednesday, citing people familiar with the deal.
Steve Albini, legendary producer for Nirvana, the Pixies and an alternative rock pioneer, dies at 61
Steve Albini, an alternative rock pioneer and legendary producer who shaped the musical landscape through his work with Nirvana, the Pixies, PJ Harvey and more, has died. He was 61.