A Toronto jury is set to begin deliberations on Thursday in the criminal fraud trial of Aiden Pleterski, the self-described "Crypto King" accused of defrauding social media followers of roughly $30 million between 2021 and 2022.
Closing arguments wrapped up this week in Ontario Superior Court. Crown prosecutor Akshay Aurora told jurors that Pleterski was "no king at all" and called him "a thief." Pleterski, 27, addressed the jury for the first time Wednesday and maintained his innocence. He described himself as the "least qualified person" to give a closing statement, adding: "Had I not been forced to represent myself, that would have been proven."
Justice Shaun Nakatsuru gave most of his instructions to the jury on Wednesday and is expected to finish Thursday morning before deliberations begin. Pleterski acted as his own lawyer, cross-examined only one of 14 Crown witnesses, and did not testify or call any evidence in his defence.
According to Albert Ciorma, a forensic accountant with the Ontario Securities Commission, investors gave Pleterski more than $36.3 million, yet none of it was sent to FXChoice, the trading platform named in investment contracts. Ciorma testified that Pleterski spent about $5.6 million on luxury vehicles, $4.9 million on credit card bills, roughly $870,000 on travel and private jets, and $598,000 on security. He also transferred nearly $3.7 million to his parents and took $609,000 in credit card cash advances.
The Crown said those expenses totaled more than $16.3 million, while another $16.1 million was paid back to investors. Aurora cited investor Sacha Singh, who gave Pleterski $1.3 million and was later repaid $700,000 from his own account.
Pleterski showed worried investors screenshots and a video of a $311 million balance in spring 2022, but prosecutors said that account never existed and its highest balance was only $12,000. Only about $4,000 ever came from cryptocurrency or foreign exchange sources, and the account was later deleted.
Pleterski was charged in May 2024 with fraud over $5,000. A money laundering charge was dropped at the end of the Crown's case. If convicted, he faces up to 14 years in prison. Separately, five men were charged with kidnapping and torturing Pleterski in 2022; one of them, Deren Akyeam-Pong, pleaded guilty to nine charges and awaits sentencing.
