- Aiden Pleterski, who calls himself “Crypto King,” had $2 million in assets seized, CBC Toronto reports.
- Pleterski reportedly received $35 million from 140 investors.
- Now, he is being sued by former investors in bankruptcy proceedings and two civil lawsuits.
A 23-year-old Canadian who calls himself the “King of Cryptocurrency” has reportedly had $2 million worth of assets seized while being sued over allegations he defrauded investors.
The assets seized from the man, Aiden Pleterski, include his Lamborghini, two McLarens and two BMWs. CBC Toronto first reported.
Investors told the publication that at least $35 million given to Pleterski’s company, AP Private Equity Limited, has gone missing. twenty nine creditors have a bankruptcy proceeding against Pleterski, and they say he owes them nearly $13 million, including one 65 year old woman who told CBC Toronto that he invested $60,000 he was saving for his grandchildren’s education.
Norman Groot, founder of Research Counsel PC, told CBC Toronto that bankruptcy proceedings against Pleterski, who began investing in cryptocurrencies as a teenager, was one of the only ways investors could try to get their money back.
Since then, Pleterski has had his assets and bank frozen accountsaccording to the report.
Pleterski was reportedly renting a lakefront mansion in Burlington, Ontario, which spent $45,000 a month and previously paid for promotional items about himself on websites like Forbes post in Monacoand extreme right daily caller publication.
A Pleterski lawyer told CBC Toronto that Pleterski thinks the claims against him by former investors are “grossly exaggerated.”
“Surprisingly, it seems that no one bothered to consider what would happen if the cryptocurrency market crashed or if Aiden, as a very young man, was qualified to handle these types of investments,” Pleterski’s lawyer Micheal Simaan said. told CBC Toronto. He added that Pleterski is “cooperating with the bankruptcy process and is hopeful that it works out in the most equitable manner for all involved.”
Insider reached out to Pleterski’s attorney for additional comment, but did not immediately hear back before publication.
In a meeting with creditors, Pleterski supposedly told them that he was “very disorganized” and did not keep records of his investments. His trustee told creditors that Pleterski he said he lost the money it had received between late 2021 and early 2022 “in a series of margin calls and bad trades,” CBC Toronto reported.