Home / News / Crypto / News / Aiden Pleterski: WeCare Chair Saad Kassis Mohamed Champions Aid for “Crypto King” Victims
News
5 min read

Aiden Pleterski: WeCare Chair Saad Kassis Mohamed Champions Aid for “Crypto King” Victims

Last Updated 5 days ago
Teuta Franjkovic
Last Updated 5 days ago
By Teuta Franjkovic
Verified by Peter Henn

Key Takeaways

  • Self-proclaimed “Crypto King” Aiden Pleterski, has been charged with fraud.
  • WeCare Chair Saad Kassis Mohamed is offering legal and financial aid to Pleterski’s victims
  • Pleterski lived extravagantly on investors’ money, spending millions on luxury cars, including a Lamborghini, and mansions.

Saad Kassis Mohamed, the chairman of WeCare , has pledged his “full support” to the victims of the self-proclaimed “Crypto King” Aiden Pleterski.

Kassis Mohamed said he would provide legal and financial support to people affected by Pleterski’s alleged $40 (CAD) million fraud. The news came after Pleterski and his associate, Colin Murphy were arrested and charged  with defrauding investors in a cryptocurrency and foreign exchange investment scheme.

Kassis Mohamed Amplifies Call for Justice Amid Pleterski’s Arrest

Following Pleterski’s recent arrest on fraud and money laundering charges, Saad Kassis Mohamed is intensifying his calls for justice and accountability. His spokesperson told CCN that he is committed to supporting the victims of the alleged Ponzi scheme.

Kassis Mohamed stated:

“The blatant misuse of investor funds by Pleterski is reprehensible. It is imperative that the victims receive the restitution they deserve and that such fraudulent activities are met with the full force of the law.”

The philanthropist has been actively involved in the case surrounding the allegations against Pleterski, who is accused of funding a lavish lifestyle through investor funds.

The scandal has uncovered startling details of Pleterski’s extravagant expenditures, including luxury trips and supercars, which he continued to show off on social media despite facing legal challenges and bankruptcy.

Kassis Mohamed also wants stronger regulations and increased investor education to prevent similar fraudulent schemes in the future.

He concluded:

“We must work together to create a financial environment where such deceitful schemes cannot thrive. By supporting the victims and taking legal action, we send a strong message that fraud will not be tolerated.”

Canadian ‘Crypto King’ Charged in $40 Million Investment Scheme

On May 15, the Ontario Securities Commission announced  Aiden Pleterski, 25, who dubs himself the “Crypto King,” faces fraud and money laundering charges. The commission also charged  his associate, Colin Murphy, 27, with fraud. It claimed Pleterski spent investors money on a lakeside mansion and a fleet of luxury cars. These included a Lamborghini, the Italian sports car totemic of crypto-based wealth.

The criminal charges brought against the two Canadians are part of a 16-month investigation called Project Swan. It align with a high-profile bankruptcy case  related to their alleged investment fraud scheme.

Court documents and local media  reports reveal  that, between 2021 and 2022, around 160 investors entrusted Pleterski and his company, AP Private Equity Limited, with approximately $40 million CAD for investments in cryptocurrency and foreign exchange markets. Some investors reportedly took out loans to fund their investments with Pleterski.

The bankruptcy trustee’s findings indicate that Pleterski invested only 2% of the funds he received. Meanwhile, he spent at least $16 million on personal luxuries. These included:

  • More than ten high-end vehicles, including two McLarens, two BMWs and a Lamborghini,
  • International travel to the US and UK.
  • Leasing a $8.4 million lakefront mansion at $45,000 per month. Notable assets seized during the bankruptcy proceedings.

Aiden Pleterski Allegedly Kidnapped and Tortured by Scheme Victims

Aiden Pleterski, a self-described “Crypto King” and occasional livestreamer , documented his lavish lifestyle on social media. There, he  bragged about trips to Los Angeles, London, and Miami, where he drove rented Lamborghinis and McLarens. One video showed Pleterski building a Lego model of the Titanic. During it, he claimed he spent $150,000 on Lego since 2021.

During the bankruptcy proceedings, Pleterski described himself as a “20-something-year-old kid”. He admitted to creditors that he was unorganized and that he failed to maintain financial records or track payments, as reported by CBC.

Meanwhile, in December 2022, a group of people affected by Pleterski’s scheme allegedly kidnapped  the self-proclaimed Crypto King. Reports indicate the group held him captive for three days, during which they allegedly tortured and beat him.

The abductors allegedly demanded a $3 million ransom for his release. Although Pleterski was eventually freed, a 12-minute video surfaced on social media showing him swollen and bruised. He apologized to his investors in what his lawyer claimed was a coerced statement. Four of the alleged kidnappers have since been arrested and charged.

NBA Star Sues to Cancel Purchase of Mansion Linked to ‘Crypto King’ 

Toronto-born NBA player Shai Gilgeous-Alexander purchased a $8.4 million lakefront mansion  previously owned by Pleterski. However, after a “threatening visit” by a man looking for Pleterski and learning of threats to burn down the property, the Oklahoma City Thunder star and his girlfriend filed a lawsuit to rescind the purchase.

Pleterski, meanwhile, was released on $100,000 bail, which was signed by his parents, as reported by CBC on Wednesday. His bail conditions include surrendering his passport, refraining from discussing financial matters on social media, and prohibiting any buying or trading of cryptocurrencies. The Ontario Securities Commission announced plans to release “further information” regarding the case on Thursday.

Was this Article helpful? Yes No