Luxury cars confiscated from 23-year-old ‘Crypto King’ as investors try to recover millions

Two McLarens, two BMWs and a Lamborghini make up just a few of the $2 million in assets seized from a 23-year-old from Whitby, Ont., as his investors try to recoup the millions of dollars they handed over to themselves. Describe the “King of Cryptography”.

But so far, Aiden Pleterski’s assets are much less than what his investors claim they owe.

Creditors are working to disclose at least $35 million that was given to Pleterski and his AP Private Equity Limited crypto and forex investment firm, according to fraud recovery attorneys and documents filed in two separate proceedings reviewed by CBC Toronto.

Diane Moore invested the $60,000 she had set aside for her grandchildren’s education after she met Biltersky through someone she had known for years. Now she’s out $50,000.

“It was all built on trust,” Moore said. “I think what Aiden has done is terrible – and I don’t know how he can live with himself.”

Moore’s investment terms included a 70-30 split on any capital gains (at 70 percent for her and 30 percent for Bultersky), an obligation that the initial investment would be paid in full if lost, and a target capital gain of 10-20 percent each Two weeks, according to her investment contract.

“I don’t know if he’s really trading at all,” Moore said. “Or was this his plan and it was just a story to get me along with other people?”

Diane Moore invested $60,000 to educate her grandchildren with Aiden Peltersky and is still getting $50,000 from her investment. (Provided by Diane Moore)

The 65-year-old from Clarington, Ont., is now one of 29 creditors who allege they owe about $13 million in a bankruptcy lawsuit against Pletersky. In a lawsuit, another investor, who allegedly received $4.5 million, obtained an injunction from Mareva, effectively freezing Pleterski’s assets and bank accounts around the world.

Nearly 140 investors who handed over a collective $20 million have responded to a plea for information from a fraud-recovery law firm investigating Peltersky, some of whom are embroiled in the bankruptcy process.

“It was a huge surprise, we’ve never had a response like this,” said Norman Grote, founder of Investigation Counsel PC, which only represents alleged victims of fraud.

Lakefront mansion rented for $45,000 a month

Through a bankruptcy trustee’s report, creditor meeting minutes, court filings, and complaints to Groot, a picture of Pletersky’s luxurious life before things fall apart emerges. the guy, It has been dubbed the “King of Crypto” in several paid promotional articlesShe owns 11 cars, rents four other luxury cars, flies private jets, and was paying $45,000 a month to rent a lakefront mansion in Burlington, Ont.

“This guy had a lot of burn-in in his lifestyle, but it doesn’t take into account the amount of money lost,” Grote told CBC Toronto.

“What’s difficult in this particular case is that Pletersky was taking so much cash – and how do you keep track of the cash?”

Blitzersky told creditors who met while he was filing for bankruptcy that he spent no more than $600,000 an hour. (Facebook)

The bankruptcy proceedings against him are the only redemption process for investors at the moment, as they take precedence over the civil suits against Blitersky.

Investors questioned Plitersky at length at the first creditors’ meeting — which lasted more than five hours — in late August, according to meeting minutes. When asked why he kept investing money when he learned he couldn’t repay his existing investors, Peltersky told the meeting that he “was 20 years old.”

Plitersky did not respond to requests for comment for this story.

Financial allegations ‘grossly exaggerated’: Peltersky’s lawyer

In an email, Plitersky’s attorney told CBC Toronto that his client objects to several of the lawsuits against him and believes the financial claims from several of the people who gave him the money are “significantly exaggerated.” Pletersky started investing in cryptocurrency as a teenager and people gave him money to invest as soon as they saw how much money he was making for himself and the people around him — but he never asked for the money, according to his attorney, Michael Seaman.

“Shockingly, no one seems to bother thinking about what will happen if the cryptocurrency market goes down or whether Aiden, who is very young, is qualified to take on these types of investments,” Simaan wrote.

“Aiden has been cooperating with the bankruptcy process and hopes it will work out in a way that is more equitable to all involved.”

Many luxury cars like this Lamborghini have been seized from Aiden Pleterski as part of bankruptcy proceedings against him. (Youtube site)

At the creditors’ meeting, the trustee stated that Peltersky claimed he lost most of the money awarded to him in late 2021 and early 2022 “in a series of margin calls and bad deals.” But as of August 29, the trustee has received nothing to support this – despite requesting evidence of trades and bank statements from Pleterski.

When asked about keeping his record of mutual funds, Peltersky told the meeting that he was very disorganized, did not keep track of his finances and did not keep a record of his indebtedness or payments.

You’ve never owned a watch worth more than $600,000

Investors also asked about a number of potential assets, including luxury cars, watches and gold bullion. When asked if he’s ever owned a Patek Philippe watch – and if he has, what happened to it – Pleterski told the meeting that he had never owned a Patek Philippe watch and that he “never owned a watch worth more than $600,000.”

CBC Toronto also reviewed Mareva’s order, which was issued as part of an investor-led lawsuit against Pleterski before a bankruptcy lawsuit replaced the lawsuit.

In ruling the injunction, Ontario Superior Court Judge Philip Sutherland identified the investor’s claim that he had been provided with photos and videos of data from the forex/cryptocurrency trading platform showing $311 million in Pleterski’s account. But when the investor independently verified the trading platform, Peltersky was told that his company did not have accounts with this money, according to the court ruling.

Like Moore, the investor claims in the lawsuit that the terms of the investment include a 70-30 percent split on capital gains and if money is lost, the investor’s full initial investment will be paid back in bimonthly instalments. The goal for capital gains is 10-20 percent growth every two weeks.

“If it is too good to be true, it is probably not true”

Groot, a certified fraud examiner for more than 20 years, says that most of the money given to Pleterski was saved when the cryptocurrency was on the rise in the market last year, and there was a “greed factor or trigger factor.”

“If it’s too good to be true, it’s probably not true,” he said.

Five percent interest [a week] Not available on the open market. The 23-year-old is unlikely to be the next Bill Gates – talk to a conservative and get a second opinion.”

Besides bankruptcy, Grote says the only avenue for investors is to file reports with the Ontario Securities Commission and the police.

Norman Grote, an attorney and certified fraud examiner, says that the more time passes, the less likely investors are to get their money back. (Provided by Norman Grote)

“These processes are long,” Groot said. “The more time passes, the less likely the evidence will be recovered — and the less likely the money will be recovered.”

The attorney told CBC Toronto that several investors who contacted his company reported Pleterski to police throughout the Greater Toronto Area. For her part, Moore says she – and the investors who heard about the opportunity from it – have filed a report with Durham Regional Police.

Unlike Moore, some of these investors borrowed their investment money from a line of credit.

“I feel terrible for them,” Moore said. “I wish I had never mentioned it.”


If you have a story you’d like us to investigate, reach out to CBC Toronto’s Enterprise Unit at torontotips@cbc.ca

Leave a Comment