Fraud and Money Laundering: Canadian Crypto King and Associate Charged

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Fraud and Money Laundering: Canadian Crypto King and Associate Charged
  • Aiden Pleterski and aide Colin Murphy charged with money laundering
  • The charges followed a joint investigation by Canada’s DRPS and OSC.
  • OSC advises the public to scrutinize individuals offering investment advice

Canadian authorities have charged Aiden Pleterski, a self-proclaimed “Crypto King” residing in Whitby, Ontario, and his associate, Colin Murphy of Oshawa, Ontario, with fraud and money laundering offenses. The charges stem from a joint investigation – Project Swan – conducted by the Durham Regional Police Service (DRPS) and the Ontario Securities Commission (OSC).

Pleterski faces the most serious allegations, including violating a court order (pursuant to subsection 517(1) of the Criminal Code) issued on May 14, 2024. He is also charged with one count of fraud exceeding $5,000 (Section 380(1)(a) of the Criminal Code) and one count of laundering proceeds of crime (Section 462.31(1)(a) of the Criminal Code). Pleterski remains in custody pending a bail hearing.

Murphy, the second suspect, is charged with a single count of fraud exceeding $5,000. Unlike Pleterski, he was released after signing an undertaking, a legal promise to appear in court.  The OSC issued a public advisory urging investors solicited by the suspects to contact the commission. The regulator expressed gratitude to those who have already provided information to aid the ongoing investigation.The OSC’s Enforcement Branch and the DRPS Financial Crimes Unit led the investigation, with assistance from the Toronto Police Service, York Regional Police, and FINTRAC. Both the OSC and DRPS emphasized investor protection. They advise the public to exercise caution when approached with investment opportunities or financial advice. The authorities recommend using the  “Check Before You Invest” and “Registered crypto asset trading platforms” pages of their websites to verify the registration status of investment vendors.

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