An Ontario man who reportedly proclaimed himself the “Crypto King” has been arrested by Durham Regional Police.
In a news release Wednesday, Durham police said a 25-year-old Whitby man and a 27-year-old Oshawa man are facing charges after a 16-month investigation.
Police said their probe began in July 2022 when the force began receiving “numerous complaints” about an investment fraud allegedly involving a Whitby man.
“During this investigation, police also became aware of another individual associated to this male who also claimed to be generating large weekly profits through savvy investments,” police said in the release Wednesday.
“Victims provided money to him under similar circumstances, with the expectation that he was investing it on their behalf and would be returning them large profits. These victims were ultimately defrauded as well, and unable to recover their funds.”
Aiden Pleterski, who is reportedly the “Crypto King,” and Colin Murphy are both facing charges of fraud over $5,000 and laundering the proceeds of crime.
Police said Pleterski was held for a bail hearing, while Murphy was released on an undertaking.
They added further information will be released Thursday at a news conference scheduled for noon in Whitby.
Anyone with new information is asked to contact police at 1-888-579-1520 ext. 5353, or the Ontario Security Commissions at 1-877-785-1555.
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