- Aiden Pretelski, who calls himself the “Crypto King,” has had $2 million in assets seized, CBC Toronto reports.
- Pleterski reportedly received $35 million from 140 investors.
- He is currently being sued by a former investor in bankruptcy proceedings and two civil lawsuits.
The 23-year-old Canadian, who calls himself the “King of Cryptocurrencies,” has reportedly had $2 million worth of assets seized after being sued for defrauding investors.
The man’s property seized included a Lamborghini, two McLarens and two BMWs, CBC Toronto first reported.
Investors told the magazine that at least $35 million given to Pleterski’s company, AP Private Equity Limited, was missing. Twenty-nine creditors have filed bankruptcy proceedings against his Pleterski, saying he owes about $13 million in debt, among them CBC Toronto, where he is paying for his grandchildren’s education. includes his 65-year-old woman who said he invested $60,000.
Investigation Counsel PC founder Norman Groot told CBC Toronto that bankruptcy proceedings against Pleterski, who started investing in cryptocurrencies as a teenager, are one of the only ways investors can get their money back. said.
Preterski’s assets and bank accounts were subsequently frozen, according to the report.
Pretelski was reportedly renting a lakeside mansion in Burlington, Ontario, and was spending $45,000 a month. Previously, websites such as Monaco’s Forbes publication and the far-right publication The Daily His Caller paid for promotional articles about himself.
A lawyer for Pleterski told CBC Toronto that Pleterski believes the claims against him by former investors are “greatly exaggerated.”
“Shockingly, no one seemed to care what would happen if the cryptocurrency market crashed or whether Aiden was qualified to handle this type of investment at such a young age. “We are cooperating with the bankruptcy process and look forward to working out in the most equitable manner for all parties,” Pretersky added.
An insider reached out to Pretersky’s attorneys for additional comment, but did not hear back immediately prior to publication.
At a meeting with creditors, Pleterski reportedly told them that he was “very unorganized” and kept no records of his investments. His trustee told creditors that Pretelski said he lost the money he received in late 2021 and early 2022 “in a series of margin calls and bad deals,” CBC Toronto reported.
Pleterski currently has no criminal charges against him, but Gizmodo reports he faces bankruptcy proceedings and two civil lawsuits.