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Luxury cars seized from 23-year-old ‘Crypto King’ as investors try to recoup millions

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Two McLarens, two BMWs and a Lamborghini are just a few of the $2 million worth of property seized from a 23-year-old man in Whitby, Ontario. I explained the “Crypto King”.

But so far, Aiden Pleterski’s fortunes are well below what his investors claim they owed.

Creditors are working to reveal where at least $35 million provided to Pretelsky and his company, AP Private Equity Limited, for cryptocurrency and foreign exchange investments. .

Diane Moore invested $60,000 in her grandson’s education after meeting Pretelski through someone she’d known for years. Now she’s out $50,000.

“Everything was based on trust,” Moore said. “I think what Aiden did is terrible — and I don’t know how he can live with himself.”

Moore’s investment terms included a 70/30 split in capital gains (70 percent for her and 30 percent for Pretelski), a promise to repay the full amount if the initial investment was lost, and a capital gain included the goal of According to her investment contract, every other week she is 10-20%.

“I don’t know if he was really trading,” Moore said. “Or was this his plan to get me along with other people?”

Diane Moore has invested $60,000 in Aiden Pretelski for her grandson’s education, but has yet to invest $50,000. (Courtesy of Diane Moore)

The 65-year-old from Clarington, Ontario, is now one of 29 creditors who claim about $13 million in debt in bankruptcy proceedings against Pleterski. In the lawsuit, another investor who claimed to have lost $4.5 million obtained an injunction against him Mareva, effectively freezing Pleterski’s assets and bank accounts around the world.

About 140 investors who collectively turned over $20 million responded to a call for information from the fraud recovery law firm investigating Pleterski.

“This was a big surprise. We’ve never had a response like this before,” said Norman Groot, founder of the Investigation Counsel PC, which represents only alleged victims of fraud.

rented a lakeside mansion for $45,000 a month

Through bankruptcy trustee reports, creditor meeting minutes, court filings, and Groot’s complaints against the company, a picture emerges of Pretersky’s lavish life before things fell apart. young man Called “Crypto King” in Some Paid Promotional Articlesowned 11 cars, leased four other luxury vehicles, flew in private jets, and paid $45,000 a month to rent a lakefront mansion in Burlington, Ontario.

“This guy had a high lifestyle burn rate, but that doesn’t explain how much money he lost,” Groot told CBC Toronto.

“The difficulty in this particular case is that Pretelsky received a large amount of cash. And how do you track the cash?”

Pleterski said at his bankruptcy creditors meeting that he never spent more than $600,000 on watches. (Unnamed/Facebook)

Bankruptcy proceedings against him are the only recovery process for investors at this time as they supersede civil claims against Pretelsky.

Investors asked Mr. Pleterski more questions at the first creditors meeting in late August, which lasted more than five hours, according to the minutes of the meeting. When asked why he kept investing even though he knew he couldn’t pay his current investors back, Pretersky said, “I was a 20-year-old kid.”

Pretelsky did not respond to requests for comment for this article.

Financial claims ‘greatly exaggerated’: Pretersky’s lawyer

Pretelski’s attorney told CBC Toronto in an email that his clients have disputed many of the claims against him, and that the financial claims from many of those who gave him money are “greatly exaggerated.” Pleterski started investing in cryptocurrencies when he was a teenager and people see how much money he makes for himself and those around him. and gave him money to invest, but according to his lawyer Micheal Simaan, he never asked for the money.

“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. is,” writes Simaan.

“Aiden is cooperating with the bankruptcy process and expects it to work out in the most fair way for all parties involved.”

Several luxury cars, like this Lamborghini, were seized from Iden Pretelski as part of bankruptcy proceedings against him. (Aiden Pretelski/YouTube)

At the creditors’ meeting, the trustee said Pleterski claimed he lost most of the money he was given “in a series of margin calls and bad deals” in late 2021 and early 2022. However, as of August 29, the Trustee had not received anything to support it.

When asked about investment fund recordkeeping, Pretelsky said he was very unorganized, did not track his finances, and did not keep records of his debts and payments. rice field.

Never owned a watch worth more than $600,000

Investors also asked about potential assets such as luxury cars, watches and gold bars. Asked if he ever owned a Patek Philippe watch, and if so, what would have happened, Pretelski replied at the meeting that Patek never owned a Philippe watch and said, “600,000 I’ve never owned a watch worth more than a dollar.” .”

CBC Toronto also reviewed the Mareva injunction ordered as part of an investor-led lawsuit against Pretelski before the lawsuit was superseded by bankruptcy proceedings.

In the ruling granting the injunction, Ontario Superior Court Judge Philip Sutherland released photos and video of a statement from a forex/cryptocurrency trading platform showing that Mr. Preterski had $311 million in his firm’s accounts. Investors claim that they were provided with However, according to the court’s ruling, the investor independently checked with the trading platform and was told that Pleterski and his company had no accounts for such funds.

Like Moore, the litigation investor said the terms of the investment included a 70-30% split in capital gains and, in the event of a loss of funds, the full amount of the initial investment would go to the investor in bi-weekly installments. Claiming to be reimbursed. The target for capital gains is to grow him 10-20% every other week.

“If it’s too good to be true, it’s likely not true.”

Groot, who has been a certified fraud examiner for more than 20 years, said most of the money given to Pleterski was provided when the cryptocurrency market rose last year, noting that “the greed factor or excitement factors,” he said.

“If it’s too good to be true, it’s likely not true,” he said.

“5 percent interest [a week] Not available on the open market. The 23-year-old is unlikely to be the next Bill Gates. See a conservative person and get a second opinion. ”

Groot said the only option available to investors other than bankruptcy is to report it to the Ontario Securities Commission and the police.

Norman Groot, an attorney and licensed fraud examiner, says the more time passes, the less likely investors are to get their money back. (submitted by Norman Groot)

“These processes take time,” says Groot. “The more time passes, the less likely the evidence will be recovered and the less likely the money will be recovered.”

Lawyers told CBC Toronto that many investors who contacted his firm reported Pretelski to the Greater Toronto area police. Moore said she and the investor who heard about the opportunity from her filed a report with the Durham County Police Department.

Unlike Moore, some of these investors borrowed from credit lines to fund their investments.

“I feel terrible for them,” said Moore. “I wish I never mentioned it.”

If you have a case you would like us to investigate, please contact CBC Toronto’s Enterprise Unit at

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