Aiden Pleterski, dubbed Ontario's 'Crypto King,' has been arrested on charges of fraud and money laundering in connection with an alleged Ponzi scheme, following an extensive fraud investigation. Pleterski, 25, and his associate, Colin Murphy, 27, are accused of defrauding unsuspecting victims of approximately $30 million.

The charges stem from a 16-month investigation known as 'Project Swan,' conducted by Canadian authorities in the midst of an ongoing bankruptcy case linked to the alleged scheme, which has garnered significant media attention in the country. This investigation involved interviews with numerous victims, dozens of court orders, and thousands of pages of financial documents, according to officials.

Pleterski faces one count of fraud over $5,000 and one count of laundering proceeds of Canadian crime. Notably, Pleterski was not registered with any Canadian securities regulator in any capacity, authorities stated, indicating that he may have been soliciting investors as recently as February 2024.

It's worth noting that none of the allegations against Pleterski have been proven in court. Last year, Pleterski was reportedly kidnapped, assaulted, and subjected to torture by five individuals claiming to be his victims. The suspects were apprehended by Toronto police on charges of kidnapping for ransom and other offenses. Pleterski was released after being held captive for three days, during which he was pressured to produce money urgently. A video obtained by CBC News showed Pleterski visibly bruised and injured, apologizing and expressing regret for any harm caused, confirming that it was recorded during the kidnapping ordeal.