An associate of Ontario’s self-described 'crypto king' was operating his own fraud scam, 'parallel' to the 24-year-old’s multi-million dollar Ponzi scheme, court documents allege.
to investors. Now, Murphy is at the centre of his own legal saga – in December, an Oshawa, Ont. resident launched a civil lawsuit against Murphy to recover $270,000 in investments.
Murphy also stored “boxes of cash” in his grandfather’s house, which he claimed were returns stored for other investors, according to legal documents. Murphy's lawyer, Sukanta Saha, said it would be inappropriate for his client to speak with CTV News Toronto because the matter is before the court, but that Murphy “denies all allegations that have been put forward.”
Murphy’s social media posts, which are chronicled in court documents, continued to depict a lavish lifestyle – driving a Lamborghini in Las Vegas, accelerating to 250 km/h in a Mercedes Benz on unplowed roads, posing on a jet ski in Nassau and shooting a handgun at a range in Orono, Ont.
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'Crypto king' associate operated parallel Ponzi scheme while living lavish lifestyle, court documents allegeAn associate of Ontario’s self-described “crypto king” was operating his own fraud scam, “parallel” to the 24-year-old’s multi-million dollar Ponzi scheme, court documents allege.
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