MANDEL: Realtor invested $3.6 million with Ontario ‘Crypto King’ — and saw just $700K
In this news:
Key takeaways
- A realtor invested $3.6 million with Ontario Crypto King Aiden Pleterski.
- The investor received only $700,000 back as funds became locked.
- Pleterski claimed he was paying people out of his own pocket after trading platforms froze.
Singh, who testified virtually from a location 12 hours ahead, said he withdrew $1 million in gains — with Pleterski taking the agreed-upon 30% — in November 2021. The next month, Pleterski sent out a mass message to all investors apologizing for “little bit of a backup with funds coming out, especially cash.”
Worried about investment
By the spring, though, Singh was worried about his investment as Pleterski complained his Belize-based trading platform froze their funds.
“Like that 700,000 you gave me, did that come from FXChoice? Or did that come from other investors that gave you money and you just gave it to me?” he demanded in a conversation he secretly recorded with Pleterski in May 2022.
“They were still paying, last year. The delays started early December. The last payment I ever got from them was in February. Ever since February, I have been paying people out of my own pocket. That is exactly how it is.”
Sought proof
Singh wanted proof there was actually money in the brokerage account. Pleterski agreed to send his associate, Mitchell Learning, with a computer to show him a live screenshot of his account balance of over $300 million.
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