Canadian Ponzi Scheme Duo Bilks Investors of $30 Million

Canadian Ponzi Scheme Duo Bilks Investors of $30 Million

**Canadian Ponzi Scheme Duo Charged with Defrauding Investors of $30 Million** Canadian authorities have charged two men with cryptocurrency fraud and money laundering in an alleged Ponzi scheme that bilked investors of over $30 million. The accused individuals, Michael Pleterski and Anthony James Ward, allegedly targeted 160 investors between 2021 and 2022, using aggressive marketing tactics to lure them into investing in their cryptocurrency platform. According to the charges, Pleterski and Ward falsely promised investors high returns on their investments. However, instead of investing their funds wisely, they allegedly used just a small portion on actual investments, while the rest went towards personal expenses and lavish lifestyles, including luxury cars, exotic travel, and a luxury mansion rental. The scheme came crashing down when investors began to withdraw their funds and realized that they were not receiving the promised returns. Many had invested their life savings in the platform, and its collapse has left them financially devastated. Pleterski and Ward have been arrested and charged with several offenses, including fraud, money laundering, and theft. They are currently in custody and awaiting trial. **Previously on May 15, 2024: Two Canadian men were charged with cryptocurrency fraud and money laundering in an alleged Ponzi scheme that defrauded investors out of $30 million.**