Self-proclaimed Canadian ‘Crypto King’ facing criminal fraud charge

financialpost.com:

Two Ontario men, including the self proclaimed “Crypto King” have been charged under the Criminal Code of Canada following a joint 16-month investigation by the Ontario Securities Commission and Durham Regional Police called Project Swan.

Aiden Pleterski of Whitby, Ont., is charged with one count of fraud over $5,000 and one count of laundering proceeds of Canadian crime. Colin Murphy, of Oshawa, Ont., is charged with one count of fraud over $5,000. The allegations involving Pleterski, who was held for a bail hearing, are covered by a publication ban issued on May 14. Murphy was released on an undertaking.

In July 2022, Durham police started receiving numerous complaints about investment fraud involving a male from the Whitby area, according to a news release issued Wednesday. During the course of their investigation, they became aware of another person associated with the first who also claimed to be generating large weekly profits through savvy investments.

“Victims provided money to him, with the expectation that he was investing it on their behalf and would be returning large profits,” according to the news release. “These victims were ultimately defrauded as well, and unable to recover their funds.”

More details are to be provided by police following a news conference on Thursday.

The investigation was conducted by a joint task force that included members of the OSC Enforcement branch and the Durham Regional Police force’s financial crimes unit, with assistance from the Toronto Police Service, the York Regional Police and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).