Aiden Pleterski: 24-yr-old 'crypto king' kidnapped and tortured after $29M scam
TORONTO, CANADA: A self-professed 'crypto king' was allegedly abducted for ransom and tortured after he reportedly scammed investors out of nearly $29 million and used millions of their money to fund his extravagant lifestyle. 24-year-old Aiden Pleterski is reportedly undergoing bankruptcy proceedings while the authorities try to recover the money.
Reports indicate only $1.6 million of the whopping $29 million has been returned, with Pleterski spending most of the money on a private jet, lavish vacations, and a fleet of luxury cars. According to the latest revelations by the crypto trader's father in a government report, he was kidnapped in the middle of the night in December over the lost funds.
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'He owes a lot of people a lot of money'
Adam Peters said in the report obtained by CBC that he received a late-night call demanding $3 million CAD (~$2.1 million USD) in ransom. He said his son was subsequently driven around Ontario, beaten, and tortured. Pleterski was apparently released after a few days with an ultimatum to come up with the money or else deal with the ramifications. He was reportedly allowed to make a call to his landlord, who testified in court that the 24-year-old was begging him for the millions in ransom payments. "I said, 'There's absolutely nothing that I can do," the landlord, who wasn't identified, stated. It's worth noting that there are no suspects in the kidnapping at this time and it is unclear whether any arrests were made in connection with the case. Speaking to CTV News, Rob Stelzer -- the trustee appointed to produce the spending report -- said he received a call from Toronto authorities about the kidnapping in early December. "I mean, obviously, he owes a lot of people a lot of money," Stelzer added.
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'Greed took over'
Norman Groot, an attorney hired by some of those scammed by Pleterski, believes the $29 million may be just the tip of the iceberg when it comes to what the so-called crypto king owes investors. According to Groot, Pleterski ran a Ponzi scheme on his clients, and investments made by some were allegedly used to fake returns for others. The lawyer is currently trying to find out how much the alleged scammer transferred out of his account and that losses could be double the $29 million invested. In 2021, Pleterski admitted that he lost investments when the crypto market crashed in the fall of that year. "In doing so, I guess you could say greed took over, and I was taking very aggressive positions, and I was trying to make returns that obviously weren't feasible or weren't necessarily possible at the time, and it just caused more losses," he said at the time.
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Spending report
Pleterski is said to have obtained the $29 million from investors telling them he would invest it in both crypto and foreign currencies, per a report by trustees probing the scheme. It says he invested just about $485,000 or less than two percent of the total funds at hand. According to the report, Pleterski spent about $362,000 on a warehouse where he stored the remaining cash. It also states that he drove at least 10 different sports cars, including a rare McLaren Senna that he bought for over $1 million in September 2021.
The report claims Pleterski spent another $700,000 on a mansion, including both rent and a down payment to eventually purchase it. The trader reportedly gave another $940,000 to an associate and around $800,000 to his parents. Stelzer, the government trustee, now wants the properties sold and the money refunded to investors. While some investors have stepped forward trying to recoup $18 million USD, bank records suggest Pleterski took in more than $29 million -- meaning there are other investors who lost $11 million and have seemingly kept quiet about how they plan to retrieve their money. Lawyers for Pleterski are yet to address the kidnapping allegations at this time, per CBC.