Aself-proclaimed Canadian ‘crypto king’, Aiden Pleterski, 23, has been accused of scamming investors with a sum of $29 million to fund his lavish lifestyle. However, the suit claims he was kidnapped and held for three days before being released, and reportedly, only $ 1.6 million of the missing funds has been returned. Pleterski has faced bankruptcy proceedings as Canadian authorities try to recover the funds, and reports suggest he spent most of it on a private jet, a fleet of flashy cars, and luxury vacations.

Canadian ‘crypto king’ allegedly kidnapped and tortured over multi-million dollar investment scam
Canadian ‘crypto king’ allegedly kidnapped and tortured over multi-million dollar investment scam© Provided by Cryptopolitan

Adam Peters, Pleterski’s father, recently revealed in a government report that his son was kidnapped at night in December and held for three days. Peters received a call demanding $ 3 million Canadian ($ 2.1 million USD) as ransom. During this time, Peters’ son was reportedly driven around Ontario and subjected to physical abuse and torture.

Toronto police have provided no information on the suspected kidnapper or any arrests made for kidnapping Aiden Pleterski, who owned a cryptocurrency business and was allegedly held for ransom. According to Rob Stelzer, the trustee appointed to produce a report on Pleterski’s finances, Toronto police contacted him in early December regarding the kidnapping. Pleterski had called his landlord while being held, begging for the millions in ransom payments he owed. The amount may only be the beginning of what Pleterski is accountable for; attorney Norman Groot claims he ran a Ponzi scheme on his clients, using investments from some to fake returns for others.

Related video: Ontario's self-proclaimed Crypto King kidnapped, beaten for ransom, bankruptcy documents claim (cbc.ca)

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Ontario's self-proclaimed Crypto King kidnapped, beaten for ransom, bankruptcy documents claim

Pleterski is currently trying to ascertain the number of funds he transferred out of his own account, which might be double the previous estimate of $29 million. Pleterski has stated that in 2021, he took a huge hit when the crypto market crashed and his investments went south. “I guess you can say greed got the better of me. I was taking risky positions, hoping to get returns, which were simply not possible, and this led to even more losses,” he said. According to a report by trustees investigating the scheme, only $485,000 of the total funds collected from investors ($29 million) had been invested in crypto and foreign currencies. Furthermore, the trustees allege that $362,000 was spent on a warehouse to store the remaining cash.

Pleterski’s Instagram stories and highlights flaunt his possessions, such as luxury cars, a private jet, and luxurious vacations on yachts with friends and women. Videos of these experiences have earned him 95.2K followers who often complement his physique and lifestyle. His brush with celebrities, such as Machine Gun Kelly, added to the public appeal of Pleterski’s extravagance.

In addition, Stelzer has alleged that Pleterski’s parents benefitted to the tune of more than $1.1 million through the scheme. As part of a cooperation agreement with the bankruptcy proceedings, they have agreed to return an Audi S5 and Volkswagen Atlas worth over $100,000, as well as pay back $812,000 by June 30.

Stelzer has also urged more potential victims to come forward and file a claim, noting that the amount of money invested in the scheme exceeded the $41 million paid out. To date, only $25 million have been claimed. “They should reach out…and get the claim filed,” he said, adding that “The only way they can take part in a dividend is by doing it.” No comment has yet been made by Pleterski’s lawyers on the kidnapping allegations.