Ontario’s ‘Crypto King’ Arrested in Alleged $30 Million Ponzi Scheme

Ontario's “crypto kingpin” Aiden Blitrski has been arrested and charged with fraud and money laundering in connection with an alleged Ponzi scheme following one of the most comprehensive fraud investigations the region has ever seen.

The 25-year-old and his 27-year-old accomplice, Colin Murphy, are alleged to have stolen nearly $30 million from unsuspecting victims.

Cryptocurrency king arrested

The charges stem from a 16-month investigation known as “Project Swan” conducted by Canadian authorities amid an ongoing bankruptcy case related to the alleged scheme, which has received significant media attention in the country.

That investigation included interviews with multiple victims, dozens of court orders, as well as thousands of pages of financial documents, according to officials.

the official press release advertiser,

“Mr. Bleterski was charged with one count of fraud over $5,000 contrary to section 380(1)(a) of the Criminal Code, and one count of laundering the proceeds of a Canadian crime contrary to section 462.31(1)(a) of the Criminal Code. The allegations relating to Mr Blitrski are subject to a publication ban issued on 14 May 2024, pursuant to subsection 517(1) of the Criminal Code.

Stephen Henkel of the Ontario Securities Commission noted that Blitrski was not registered with any Canadian securities regulator in any capacity. Authorities indicated he may have been soliciting investors as late as February 2024.

Kidnapping

It is important to note that none of the allegations against Bleterski have been proven in court. Ontario authorities have declined to reveal further details about their case, but it is important to note that Blitrski was kidnapped, assaulted and tortured by five individuals who claim to be his victims last year.

According to court records, Toronto police arrested the five suspects for kidnapping for ransom and other crimes, including a person who invested money with Bleterski.

After holding him for three days, Bleterski's kidnappers released him, but only after pressuring him to urgently provide a sum of money, according to court records. in video Obtained by CBC News, a clearly bruised and injured Bliterski is heard apologizing, expressing remorse for any harm he caused, and his lawyer confirmed the video was recorded during the kidnapping ordeal.