Aiden Pleterski, the self-proclaimed “Crypto King,” refused to surrender his diamond-set Rolex, Audi, and cellphone to a bankruptcy trustee.
According CTV News Torontothe bankruptcy trustee noted that Pleterski owed more than $25 million to 119 investors.
Rob Stelzer, Pleterski’s bankruptcy attorney and senior vice-president of Grant Thornton Ltd, told CTV News Toronto that he “has been doing this kind of work for over 15 years and [he’s] never made such a request.
Pleterski’s refusal to hand over his belongings nearly led to his arrest. However, the day before his court appearance, he gave up his Audi RSQ8 and his Rolex, while setting a delivery date for his phone.
Pleterski’s lawyer, Michael Simaan, argued that the claims made in court were “grossly exaggerated”.
“While Aiden’s past compliance is far from perfect, he is currently cooperating with the trustee in bankruptcy,” Simaan told CTV News Toronto.
By August, the amount owed by Pleterski approached $13 million, climbing to $25 million. Only $2 million was recovered.
The bankruptcy trustees also noted that they had discovered Pleterski’s creditor funds had paid for five luxury registered cars to various family members. Stelzer will seek a court order to release information regarding the vehicles.
“We are going to be in court in two days, hopefully we get all the relief we are looking for. When we get those bank statements, there will be a lot of work going through the statements, figuring out where the money went,” Stelzer said.