The Toronto Police have charged a fifth suspect in connection with the kidnapping of the so-called "cryptocurrency king" Aiden Platersky in December.

Platersky, 24 years old, is alleged to owe at least $35 million to cryptocurrency and foreign currency investors. The Ontario Superior Court declared his company bankrupt nearly a year ago, but only $2.2 million in assets were seized, which is far less than the money allegedly owed to investors. The seized items included a $350,000 Lamborghini and $32,000 in jewelry.

The Toronto Police announced earlier this week that four people were charged in connection with the kidnapping that occurred on December 5, 2022. According to the police, the victim was lured into a vehicle by the suspects, two of whom pointed firearms at him as soon as he entered. The police said the victim was held for three days and taken to various locations where he was assaulted. They stated that the suspects demanded a large sum of Canadian currency, and the victim's and his family's lives were threatened.

The investigators have not publicly identified Platersky as the victim; however, court documents obtained by "CTV News" claim that the young man from Whitby, Ontario was kidnapped on the same day in December 2022.

A video surfaced a few days ago showing Platersky apologizing to investors and stating that he would reach out to each of them personally.

The police earlier stated that Deren Akiam Bong, 24, from Toronto; Rahim Henry, 24, from London; Aqeel Heywood, 39, from Toronto; and Tyler Fast, 37, from Toronto, each face various charges in connection with the alleged kidnapping.

Court documents indicate that Heywood invested $740,000 with Platersky and was one of five people representing the interests of investors in the bankruptcy proceedings.

Heywood stated when asked about the charges earlier this week, "I can assure you that I'm innocent."

The fraud recovery lawyer working on the case said, "Heywood resigned from his position as an inspector on July 7, two days after he was charged with kidnapping Platersky."

The police said on Friday that they have now charged a fifth person in connection with the kidnapping on December 5, 2022. They indicated that Alfredo Paladino, 22, from Hamilton, is now facing a list of charges as well, including kidnapping, forcible confinement, assault, and several weapons charges.

He was scheduled to appear before the court for a bail hearing on Friday morning.