The self-proclaimed ‘Ontario Crypto King,’ who was allegedly kidnapped during his bankruptcy and reportedly owes $40 million in misappropriated crypto investments, is apparently still splashing the cash.
Crypto investor Aiden Pleterski owes former clients $40 million in crypto and forex investments after reportedly spending just 2% of their funds on investments while $16 million was plowed into hired jets, luxury cars, and his Ontario mansion.
So far, roughly 160 investors filing the case against Pleterski in the Ontario Superior Court have clawed back close to $3 million. However, despite this and Pleterski’s ongoing bankruptcy, the CBC reports that he’s not curbed his frivolous spending and currently describes himself as a professional streamer who’s “unemployed with income.”
His lavish lifestyle reportedly includes driving both a McLaren and a Lamborghini, spending $150,000 on Lego, and offering to fly a woman from Sydney to Melbourne on his next trip.
Protos also found Pleterski has recently been live-streaming himself on Kick while gambling on slot machines in videos titled “LOSING MILLIONS & OME !money.”
In addition, Pleterski traveled to the UK for a boxing event in Manchester before visiting London. He then flew to Los Angeles for various parties before moving to Miami and is now planning to fly to Australia, all within the space of two months.
A fraud recovery lawyer told CBC that “Pleterski is not deterred by anything that has gone on litigation-wise in the bankruptcy to continue on his reckless type of spending.”
Bankruptcy aware of Crypto King’s spending habits
The ‘Crypto King’ bankruptcy is managed by insolvency trustee Rob Seltzer, who is investigating Peterlski’s finances and administrating his estate. Seltzer works for accounting firm Grant Thornton and is reportedly aware of his travel posts.
A Grant Thornton spokesperson said, “Although there is no prohibition regarding the travel of a bankrupt, the nature and amount of traveling has been lavish.” Seltzer asked the court to note Pelterski’s traveling and has opposed an automatic discharge “given Pleterski’s conduct.”
Thornton said that Seltzer has already recommended the court should incarcerate Pleterski “for failing to fully comply with his duties as a bankrupt,” but has so far been rejected.
According to CBC, a discharge hearing is expected to take place in the coming months. If discharged, Pleterksi would no longer have to repay his bankruptcy debts.