Ontario court documents describe kidnap, ransom, torture of $41M crypto scammer

new court Aiden Pretelski’s case, Canada’s self-proclaimed “crypto king,” previously disclosed his kidnapping and torture over three days in December 2022 as a result of a failed crypto investment scheme. Details that have not been disclosed have been clarified.

crypto king

Pretersky, once billed as the “Crypto King” by his peers, has been accused of misleading investors by promising to invest in cryptocurrencies and foreign exchange.

A bankruptcy trustee’s report filed earlier this year said Pleterski had raised a staggering $41.5 million from investors.

However, according to newly released court documents, Pleterski’s investment activity has fallen significantly short of expectations.

According to the survey, Pleterski spent nearly 38% of the funds raised (about $16 million) on personal expenses such as renting a private jet, taking a luxury vacation, and buying a luxury car.

kidnapping, torture, ransom

Pleterski’s father testified to the trustee that his son was kidnapped in the middle of the night and brutally tortured and beaten during a three-day confinement while driving through southern Ontario. The trustee’s report further reveals that Pretersky’s landlord received a ransom call demanding his $3 million for his release.

Three days later, according to court documents, Pretersky was released from captivity.

A bankruptcy filing dated March 16 states that creditors are only out $25 million, and those who invested the remaining $16 million may be seeking repayment through other means. is shown.

In a statement filed with the Ontario Bankruptcy and Bankruptcy Court, Pleterski said of his failed investment plans:

“You could say greed reigned. I was taking a very aggressive position and trying to make returns that were clearly not feasible or not always possible at the time, but it was more It caused a lot of losses.”

Ontario court documents describe the kidnapping, ransom, and torture of a $41 million cryptocurrency scammer, first appearing on CryptoSlate.

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