Aiden Pleterski, known as Ontario's 'Crypto King,' has been arrested and accused of fraud and money laundering in connection with an alleged Ponzi scheme following an extensive fraud investigation in the region. Alongside his associate Colin Murphy, Pleterski, 25, is alleged to have defrauded unsuspecting victims of approximately $30 million.

The arrest comes after a 16-month investigation dubbed 'Project Swan' by Canadian authorities, carried out amidst an ongoing bankruptcy case linked to the purported scheme, which has garnered significant media attention nationwide. The investigation involved interviews with numerous victims, numerous court orders, and scrutiny of thousands of pages of financial documents, according to officials.

According to the official press release, "Mr. Pleterski has been charged with one count of fraud over $5,000 contrary to Section 380(1)(a) of the Criminal Code, and one count of laundering proceeds of Canadian crime contrary to Section 462.31(1)(a) of the Criminal Code. The allegations involving Mr. Pleterski are covered by a publication ban issued on May 14, 2024, pursuant to subsection 517(1) of the Criminal Code."

Stephen Henkel of the Ontario Securities Commission noted that Pleterski was not registered with any Canadian securities regulator in any capacity and may have been soliciting investors as recently as February 2024.

Regarding the incident of kidnapping, it's essential to mention that none of the allegations against Pleterski have been proven in court. Ontario authorities refrained from disclosing further details of their case. However, it's worth noting that Pleterski was reportedly abducted, assaulted, and subjected to torture by five individuals claiming to be his victims last year.

According to court records, the five suspects were apprehended by Toronto police on charges of kidnapping for ransom and other offenses, including one individual who had invested money with Pleterski. After being held captive for three days, Pleterski was released by his captors, but only after being pressured to produce a sum of money urgently, as per court records. A video obtained by CBC News showed a visibly bruised and injured Pleterski apologizing and expressing regret for any harm caused, with his lawyer confirming that the video was recorded during the kidnapping ordeal.