Ontario's 'Crypto King' Aiden Pleterski arrested

Aiden Pleterski, the self-proclaimed 'Crypto King' from Whitby, Ont., has been arrested in Durham Region after allegedly running a Ponzi scheme worth more than $40 million.

Court documents obtained by CTV News Toronto show that a warrant was issued for Pleterski on May 2 after a 16-month Durham police investigation. He was charged with fraud over $5,000 and money laundering on Tuesday.

The 25-year-old was released on a $100,000 bail with his parents signed as sureties and an order that he stay with them in Whitby, Ont.

Other conditions restrict Pleterski from leaving Ontario, and require him to hand in his passport to Durham police. He is prohibited from contacting his associates or investors, possessing a debit or credit card, along with posting on social media about financial matters.

Durham police launched an investigation into Pleterski in July 2022 after investors claimed he had defrauded them. A month later, more than 100 people who allege to have lost north of $40 million to Pleterski petitioned him into bankruptcy in a civil lawsuit.

While investigating, police came across a second individual, 27-year-old Oshawa resident Colin Murphy, who has also been arrested and charged with fraud over $5,000 in connection with their investigation.

Investors have previously alleged in a civil action against Murphy that he operated a Ponzi scheme parallel to Pleterski's alleged scheme.

Several victims who invested with Pleterski were notified of his arrest in an email obtained by CTV News Toronto from the Ontario Securities Commission on Wednesday morning.

Durham Regional Police Service and the Ontario Securities Commission will be holding a news conference on Thursday to share further details.