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The individual known as the ‘Crypto King’ in Ontario utilized Scene+ points to finance extravagant travels despite being bankrupt.

Recent records show that Aiden Pleterski, also known as the ‘Crypto King’ of Ontario, used around $13,000 worth of Scene+ points to fund his luxurious trips around the world. This occurred while he was dealing with bankruptcy and being charged with a crime in connection to an alleged Ponzi scheme.

Information about the 25-year-old Oshawa resident was revealed in a recent report regarding ongoing bankruptcy proceedings. Despite facing legal troubles, Pleterski maintained his extravagant lifestyle on social media until he was apprehended in May.

Pleterski is currently restricted to his parents’ residence in Oshawa due to accusations of fraud and money laundering, preventing him from traveling extensively.

The findings showed that Pleterski earned Scene+ points by using his Scotiabank Scene+ credit card for transactions. These points were still available to him despite his bank accounts being seized in 2022.

According to travel records, Pleterski utilized the points to pay for various costs including lodging in London, air travel to Los Angeles, and roundtrip transportation from L.A. to Melbourne. While stating that the points could not be transferred and had no monetary value, specialists contend that loyalty points hold substantial value.

While Scotiabank and the bankruptcy trustee declined to comment on the specifics of the case, it is suggested that if the points were acquired through illegal means, they could be subject to seizure.

Experts specializing in insolvency emphasize the importance of recognizing loyalty points as assets that must be disclosed during bankruptcy proceedings. Neglecting to report these assets may result in delays and affect the timeline for being discharged from bankruptcy.

The trustee suggests that Pleterski’s bankruptcy period should be prolonged by two years and he should pay $4.5 million for assets that were not previously disclosed. The court will have the final say on when he can be discharged from bankruptcy.