‘Crypto King’ Aiden Pleterski Tells Jury He Is Innocent in Toronto Fraud Trial

• Self-described “Crypto King” Aiden Pleterski told a Toronto jury he is innocent in his first time addressing them.
• Prosecutors called Pleterski “a thief” who used investor money to fund a lavish lifestyle.
• A forensic audit found investors gave him more than $36.3 million, and none of it reached the FXChoice trading platform.
• An audio recording played in court had Pleterski admitting a $311 million fund never existed.
• The jury is set to begin deliberations Thursday after final instructions from the judge.

Self-described “Crypto King” Aiden Pleterski told a Toronto jury on Wednesday that he is innocent of fraud. It was the first time he addressed the jury during his trial in Ontario Superior Court.

“I am innocent of these charges,” Pleterski said. “That is why I pled not guilty. Had I not been forced to represent myself, that would have been proven.”

The 27-year-old faces one count of fraud over $5,000. The Crown dropped a second charge of money laundering at the end of its case.

If found guilty, Pleterski could face up to 14 years in prison. He was charged in May 2024 after a lengthy police investigation.

Pleterski represented himself at trial. He cross-examined only the first of 14 Crown witnesses and chose not to testify or call evidence in his defence.

Crown Calls Pleterski “a Thief”

Crown prosecutor Akshay Aurora gave a closing statement of about 90 minutes before Pleterski spoke. “Mr. Pleterski was no ‘Crypto King,'” Aurora said. “He was a thief.”

Aurora told jurors that none of the investor money went into the trading platform FXChoice, as promised. He said Pleterski used it to repay other investors, buy cars, fly on private jets and pay credit card bills.

Albert Ciorma, a forensic accountant from the Ontario Securities Commission, testified earlier that investors gave Pleterski more than $36.3 million. His audit found none of it was sent to FXChoice.

Ciorma said Pleterski spent about $5.6 million on luxury vehicles, $4.9 million on credit card bills, $870,000 on travel and private jets, and $598,000 on security. He also gave nearly $3.7 million to his parents.

In total, those expenses came to more than $16.3 million. Pleterski also paid out about $16.1 million to investors from the funds he received.

The $311 Million Fund That Never Existed

The Crown said Pleterski’s own trading between July 2020 and July 2022 produced only losses. Aurora said just $4,000 came into his accounts from any crypto or foreign exchange source.

Jurors heard about a $311 million fund that Pleterski showed worried investors through screenshots and video in spring 2022. In an audio recording played in court, Pleterski admitted the fund never existed.

“At no point, no point in the history of this account, was there $300 million, not even close,” Aurora said. “The highest this account was at was at $12,000.”

In one example, investor Sacha Singh gave Pleterski $1.3 million. Singh was later paid back $700,000 of his own money from the same account.

In a separate case, five men were charged with kidnapping and torturing Pleterski in 2022. One of them, Deren Akyeam-Pong, pleaded guilty to nine charges and is awaiting sentencing.

Justice Shaun Nakatsuru gave most of his instructions to the jury on Wednesday. He said he would finish on Thursday morning, after which the jury will begin deliberations.