Canada’s ‘Crypto King’ and Associate Arrested, Charged With Fraud in Alleged $30M Ponzi Scheme

According to court documents and local media reports, between 2021 and 2022, approximately 160 investors gave Pleterski and his company, AP Private Equity Limited, around $40 million in Canadian dollars ($30 million USD) to invest on their behalf in the crypto and foreign exchange markets. Some of those investors, according to reports, took out loans to invest with Pleterski.

The trustee overseeing the bankruptcy case concluded that Pleterski only invested 2% of the money he was given, and spent at least $16 million on himself – buying over 10 luxury cars, traveling internationally, and renting a $8.4 million lakefront mansion for $45,000 per month. Two McLarens, two BMWs and a Lamborghini were seized during the bankruptcy process.

Source: Canada’s ‘Crypto King’ and Associate Arrested, Charged With Fraud in Alleged $30M Ponzi Scheme