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$2 Million in Assets Seized From a 23-Year-Old For Allegedly Scamming Investors:

Aiden Pleterski, self-decribed as Crypto King,  a 23-year-old Canadian trader, has been sued after allegedly breaching agreements to return at least $35 million to his clients(investors).

Already, authorities have seized $2 million worth of his assets – two McLarens, two BMWs, and a Lamborghini.

According to reports, Pleterski ran a business called AP Private Equity Limited, where he promised to generate high returns for investors from crypto and Forex trades.

Investors like Diane Moore agreed and invested $60,000 she had once earmarked for her grandchildren’s education.

According to the agreement of both parties, Pleterski included a promise for 70% of any capital gains produced by the trader, and a full return of her initial investment if things went south.

Still in the contract was a promise of roughly 10 to 20% biweekly returns.

However, only $10,000 of that initial investment remains.

“The whole thing was based on trust,” Moore said. “What Aiden has done, I think, is awful — and I don’t know how he can live with himself.”

Moore can no longer believe if Pleterski was ever a trader or just a fraudster.

She is not left alone as about 29 more investors are involved in a bankruptcy proceedings against Pleterski, alleging they’re owed $13 million.

Another creditor who claims to have lost $4.5 million has obtained a Mareva injunction against the so-called “Crypto King.”- meaning that, Pleterski’s assets and bank accounts will be frozen worldwide.

Meanwhile, Norman Groot, the founder of the fraud recovery law firm investigating the trader, has obtained information from roughly 140 investors who were victims.

From his investigations, Pleterski lived a luxurious lifestyle: 11 vehicles, a private jet, and a lakefront mansion in Burlington, Ontario rented for $45,000 per month.

“This guy had a large lifestyle burn rate, but it doesn’t account for the amount of money that’s missing,” Groot told CBC Toronto.

Groot said that tracking the remaining funds may prove difficult since Pleterski received many of his investments in fiat.

In addition, the practitioner added that many of the funds were provided to Pleterski with greed and excitement during the bullish crypto market era.

It is worth knowing that since crypto winter (bear market), crypto lenders promising high returns including Celsius and Voyager have gone bankrupt.

What Pleterski Lawyer said

Pleterski’s lawyer disclosed to Micheal Simaan CBC that investors’ claims against the trader have been “wildly exaggerated.”

From his account information, the trader began crypto investments as a teenager, and people started giving him money once they found out how much he was making.

However, he never solicited funds from others.

“Shockingly, it seems that nobody bothered to consider what would happen if the cryptocurrency market plummeted or whether Aiden, as a very young man, was qualified to handle these types of investments,” wrote Simaan.

By Meekness Nnoka

Blockchain Analyst & Writer with top-notch Technological background. Enjoys reading and writing fascinating crypto contents. 4 years content creating experience.

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