A judge in Ontario, Canada, has issued an arrest warrant for Ryan Rumble, an accomplice of Aiden Pleterski, known as Canada’s “crypto-king,” for his involvement in an eight-figure crypto investment scam. The warrant comes as part of a class action lawsuit filed earlier this year, alleging that Rumble’s investment management firm, Banknote Capital, directed nearly one-third of the $14 million raised from investors into Pleterski’s fraudulent scheme. Despite a court order to surrender his passport by December 1, Rumble, who claimed to be residing in Dubai, ignored the directive.

During a virtual court appearance, Rumble, representing himself, stated, “I haven’t done anything criminally wrong,” emphasizing that the lawsuit against him is a “civil matter.” He acknowledged being in contempt of court and expressed awareness of the difficult position he is in. The court has issued instructions for the Canadian Border Services Association to seize Rumble’s passport if he attempts to cross a Canadian border, transferring him to a police agency.

Rumble, based in Chatham, is the first among Pleterski’s associates to face an arrest warrant. Local police in Chatham have been directed to arrest him if he is found at his residence.

Emily Hime, a 31-year-old mother leading the lawsuit against Rumble, expressed the significance of the arrest warrant, stating, “I think it helps to give us reassurance in the justice system that he won’t be able to run around the world with zero repercussions like Pleterski has. Our fear would be that he’s over there and he’s dissipating assets.”

Pleterski, the self-proclaimed “crypto-king,” is accused of orchestrating a Ponzi scheme that allegedly stole between $40 million and $100 million, promising investors yields through crypto market trading. However, only a small fraction of the funds was used for crypto trading, while the majority was spent on luxury items. Pleterski faced a kidnapping ordeal, forced to apologize for his crimes on camera, with his captors demanding a $3 million ransom. Though facing civil charges, investors are striving to recover millions during bankruptcy proceedings.