‘Crypto King’ arrest: Ontario police fear more victims in ‘massive’ fraud case

Durham Regional Police fear there are more victims involved in a "massive" fraud case allegedly linked to Ontario's self-declared "Crypto King."

Durham Regional Police fear there are more victims involved in a “massive” fraud case allegedly linked to Ontario’s self-declared “Crypto King.”

That so-called Crypto King, 25-year-old Aiden Pleterski from Whitby, is facing charges of fraud over $5,000 and laundering the proceeds of crime.

Durham police announced his arrest on Wednesday; Colin Murphy, a 27-year-old Oshawa man, is facing the same charges.

In an update Thursday, Durham police Chief Peter Moreira alleged Pleterski, who reportedly ran a firm dubbed AP Private Equity, was attempting to solicit investment as early as February.

“Investigators have spoken to many people who have been impacted by this fraud, and encourage anyone who may be a victim, or thinks that they may be a victim, to come forward,” he said.

Durham police’s 16-month-long probe, which involved the Ontario Securities Commission’s enforcement branch, began in July 2022 when the force began receiving “numerous complaints” about an investment fraud allegedly involving a Whitby man.

During their investigation, police said they also became aware of another individual associated with that man, who also claimed to be generating large weekly profits through savvy investments.

“Victims provided money to him under similar circumstances, with the expectation that he was investing it on their behalf and would be returning them large profits,” police said.