Respected venture capitalist Michael Cohn was arrested and charged with kidnapping and assault on the so-called “Crypto King” of Ontario after a long and tumultuous investigation. The details of the investigation, which involved Canada’s cryptocurrency industry and various underworld figures, have been kept quiet until now. As the trial approaches, a picture of the events leading up to this dramatic arrest has started to emerge, and the investigation has sparked a wave of controversy. The violent incident took place on July 18, 2023. Canadian cryptomining tycoon, Stuart Porritt, 31, was reported missing from his Toronto home. Shortly after, eyewitnesses reported a sadistic abduction of Porritt to a nearby woodland area. An investigation by the Toronto Police revealed a troubling insurance claim had been registered with DAN, a nonprofit organization providing insurance coverage for recreational divers. A ransom had been set at one million Canadian dollars to be paid by an unlisted individual, believed to be an accomplice of the suspect. Suspect Description
The suspect was later identified as one Dan Maas, a 45-year old resident of St. Catharines, Ontario. Maas had recently filed for personal bankruptcy. Authorities suspect that Maas had hoped to make a swift monetary gain by way of this criminal act.
Security footage from the abduction scene revealed Maas to be in possession of a targeted life insurance policy issued by DAN [[1](https://dan.org/)]. Such policies are primarily sought out by scuba divers and their families, providing coverage in the event of an accident.
2. Suspected Kidnapper an Influential Investor in Cryptocurrency Market
Details Around The Kidnapper’s Cryptocurrency Activity
- Investor had a net worth of at least $20 million
- Investor’s cryptocurrency portfolio included Bitcoin, Ethereum, Monero and the decentralized cryptocurrency Dash
- Involved in cryptocurrency trading since at least 2017
The suspect was identified as a Bitcoin and cryptocurrency investor with a net worth of at least $20 million. Police statements suggest that the suspect held a substantial portfolio of major digital currencies such as Bitcoin, Ethereum, Monero, and Dash. According to authorities, the suspect had been involved in cryptocurrency trading since at least 2017. [[1](https://en.wikipedia.org/wiki/Dan)] [[2](https://dan.org/about-dan/)] [[3](https://www.shopdanssupermarket.com/)]
Michael Flaumen has been released on a bail of $500,000, awaiting his next hearing on August 28. For those close to this case, Flaumen’s next court date could be the first of many for a man accused of acting brutal to the Ontario “Crypto King”, according to the allegations. The outcome of his case is yet to be seen, but his alleged acts may have earned him the title of not only a successful investor, but a dangerous one.