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A 23-year-old “Crypto King” named Aiden Pleterski is wrapped up in bankruptcy proceedings after allegedly scamming $29 million out of investors. According to Daily Mail, only $1.6 million of the money scammed was returned. While reports claim the Canadian scammer blew most of the money on vacations, private jets, and cars, Pleterski’s father claims his son was kidnapped, and the money went towards ransom.

The scammer’s father—Adam Peters, gave a statement in a government report saying his son was kidnapped in the middle of the night in December, with kidnappers of his son calling and demanding $2.1 million USD in ransom. From there, Peters alleges that his son was beaten and tortured while being taken around Ontario.

Pleterski was released after a few days and was reportedly threatened to come up with the money or else. The scammer allegedly called his landlord to ask for money, and according to his testimony, the landlord told him, “There’s absolutely nothing that I can do.”

Reports also noted that Pleterski invested less than two percent of investments given to him and AP Private Equity, which amounted to millions. Court documents claim the scammer spent money on private jets and dropped $45,000 monthly to rent a lakefront mansion in Ontario. Overall, Pleterski allegedly spent $12 million of the investment money on luxury items. Stay tuned for more updates.