King’s ransom
On Monday, Toronto police announced they had arrested and charged four men in December’s kidnapping of Aiden Pleterski, a 24-year-old self-proclaimed “Crypto King” who ran a cryptocurrency investment firm that was rapidly going out of business.
The suspects face dozens of other related charges, including firing a firearm, kidnapping for ransom, aggravated assault and extortion.
According to court records, Pleterski was lured into a vehicle by one of the suspects and held at gunpoint by two others once inside.
Over the course of the next three days, Pleterski was reported to have been beaten and tortured by his captors in several locations. When they finally dumped Platerski downtown, they threatened to keep him quiet.
Among the indicted defendants was one of Pleterski’s dozen investors, 39-year-old Akil Heywood, who had been chosen by other investors to investigate what had happened to their money, and he himself had invested $740,000.
Exorbitantly too much
Pleterski initially made his small fortune investing in crypto as a teenager.
After establishing his company in December 2021, the “Crypto King” raised more than $41 million from investors – a lot of money to entrust to a barely twenty-year-old.
Court records show that Pleterski invested less than two percent of that money. A good chunk of the rest — nearly $16 million — he blew onto what a suddenly rich kid would do: luxury cars and lavish vacations.
Or three McLarens, two Lambos, three Audis and two BMWs, That reports the New York Times. Plus private jet flights to boot.
Apologies under duress
In an edited video received by CBC Torontoa visibly defeated Pleterski apologized to investors for the massively squandered funds.
“I’m sorry, I really am. I didn’t want or wanted to ruin anyone’s life,” Pleterski said in the video.
“When the crypto market started falling in November 2021, I should have been honest with everyone,” he added. “I lost almost $45 million strictly in the crypto market alone in a month.”
While some of what Pleterski admitted was correct, Pleterski’s attorney said, “he was forced by his captors to say a lot,” as quoted by Pleterski. CBC.
Nevertheless, by the end of the video, Pleterski sounded determined to make up for his excess.
“I’m going to work for it,” he said. “I’m going to live on the bare minimum until every last soul is repaid.”
As of now, Heywood has been released on bail along with another subject.
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