Deren Akyeam-Pong pleaded guilty to kidnapping and torturing Ontario’s self-proclaimed “Crypto King,” Aiden Pleterski, in a violent abduction in December 2022.

Last week, Deren Akyeam-Pong admitted in court that he and others kidnapped Pleterski in Toronto and held him captive between Dec. 5 and Dec. 8, 2022. This is the time when a video circulated on the internet of a beaten Pleterski apologizing to investors, who lost a total of $40 million.

According to reports, Deren Akyeam-Pong admitted to nine charges, including kidnapping, aggravated assault, assault with a weapon, discharge of a firearm, possession of a restricted firearm, unlawful possession of a prohibited device, pointing a firearm, and two counts of failing to comply with firearm prohibitions. However, the details of his plea remain under a temporary publication ban.

Crypto King’s guilty plea delays trial of two other suspects

Akyeam-Pong’s plea was unexpected and has resulted in a significant turning point in a case that has drawn international attention, largely due to Pleterski’s extravagant lifestyle.

Akyeam-Pong was set to stand trial this month with Akil Heywood, who invested a large sum of money and is involved in Pleterski’s bankruptcy proceedings, and Alfredo Paladino.  Akil Heywood faces three kidnapping and two extortion charges, and maintains his innocence.

Co-defendant Alfredo Paladino faces similar kidnapping, extortion, firearm, and assault charges. Another alleged kidnapper is set to go on trial early next year.

As a result of the plea, the trial judge agreed with defence lawyers Hussein Aly, who represents Heywood, and Leora Shemesh, Paladino’s counsel, who asked for an adjournment given the change in the case. A future trial date has not been set.

However, Justice Shin will conduct a hearing at the end of the month, where she will be asked to lift the temporary publication ban, which the Toronto Star opposes.

Pleterski risks 14-year jail term over fraud

Before the kidnapping, investors had forced Pleterski into bankruptcy in August 2022 while trying to recover more than $40 million they’d given him for crypto and foreign exchange investments.

According to bankruptcy proceedings, Pleterski has been accused of using investor funds for personal gain, spending $16 million on exotic cars, real estate, and other high-end goods while investing only about 2% of the money he received.

Online, Pleterski portrayed an image as a financial markets prodigy, with social media accounts showcasing a jet-setting lifestyle. Police also charged another man, Colin Murphy, allegedly an associate of Mr Pleterski’s. The investigation, dubbed “Project Swan” by authorities, is believed to be the largest fraud case ever in the region.

It involved interviews with a large number of victims, over three dozen court orders, and thousands of pages of financial documents. Pleterski was not registered in any capacity with any Canadian securities regulator. 

To that end, Pleterski faces fraud and money laundering charges related to investor funds, with a trial set for October 2026. If convicted, he could face up to 14 years behind bars. As reported by Cryptopolitan, Keyron Moore received 13 years in prison for a 2022 Toronto-area kidnapping involving torture, sexual assault, and a $1 million Bitcoin demand from a victim identified as A.T., who was abducted outside a Thornhill plaza and confined in a Barrie garage.

Meanwhile, over the past 18 months, kidnapping attacks targeting digital asset holders have surged, with at least 231 physical incidents, including abductions, home invasions, and violent coercion, documented worldwide, resulting in the death of at least 6 victims.

Even more shocking, of the $166 million stolen through physical attacks on cryptocurrency holders from 2022 to 2025, almost $128 million has been obtained through kidnapping.

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