Ontario’s alleged Ponzi scheme operator, Ryan Rumble, faces an arrest warrant after failing to surrender his passport as ordered by a judge in a civil lawsuit, according to local news reports.
Rumble, accused of orchestrating a $14 million Ponzi scheme, claims to be in Dubai and justifies his actions by securing a consultancy contract to repay investors. However, fraud litigators doubt the legitimacy of the contract.
Rumble, associated with ‘Crypto King’ Aiden Pleterksi, accused of receiving $4 million from the scheme, insists he hasn’t committed any criminal wrongdoing. A whistleblower revealed that Rumble’s company, Banknote Capital, managed over $100 million, but Rumble can’t recall the source of funds.
Despite facing a $40 million bankruptcy case, Pleterksi continues to travel and gamble online. The arrest warrant provides reassurance to investors seeking justice, with concerns that Rumble, if not apprehended, may dissipate assets.
The court issues a province-wide arrest warrant, urging police to swiftly apprehend Rumble at his residence.
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