TLDR
- Jurors in the Toronto fraud trial of self-described “Crypto King” Aiden Pleterski will begin deliberations Thursday after closing arguments.
- Pleterski, 27, is accused of defrauding social media followers of about $30 million between 2021 and 2022.
- An Ontario Securities Commission forensic accountant said investors gave him more than $36.3 million and none went to the trading platform.
- Prosecutors say a $311 million account never existed and that its highest balance was $12,000.
- Pleterski represented himself, told the jury he is innocent, and faces up to 14 years in prison if convicted.
The criminal case against Aiden Pleterski, who calls himself the “Crypto King,” is headed to a jury. Closing arguments wrapped up this week in Ontario Superior Court in Toronto. Jurors are set to begin deliberations on Thursday.
Crypto King Aiden Pleterski admits $300M fund never existed
An audio recording from June 2022, played in a Toronto fraud trial, reveals the self-proclaimed ‘Crypto King’ made the admission.
🇨🇦 Torontohttps://t.co/zGXVDyi794 pic.twitter.com/JuHMUHFhtL— Quorumz (@xQuorumz) October 27, 2026
Justice Shaun Nakatsuru gave most of his instructions to the jury on Wednesday. He said he would finish on Thursday morning before deliberations start.
What Pleterski told the jury
Pleterski, 27, addressed the jury for the first time on Wednesday. He called himself the “least qualified person” to give a closing statement. He then said he is innocent.
“Had I not been forced to represent myself, that would have been proven,” he said. He added that he had nothing more to say.
Pleterski acted as his own lawyer. He cross-examined only the first of the 14 witnesses called by the Crown. He did not testify or call any evidence in his defence.
At times, he told the judge he did not know what to ask witnesses. In one case, he said he needed a lawyer.
The Crown’s closing argument
Crown prosecutor Akshay Aurora spoke for about 90 minutes. He told jurors that Pleterski was “no king at all” and called him “a thief.”
Aurora said none of the investor money went into the FXChoice trading platform listed in investment contracts. He said Pleterski used it to repay other investors, buy cars, fly on private jets and pay credit card bills.
Pleterski is charged with fraud over $5,000. He was charged in May 2024 after a lengthy police investigation. The Crown dropped a second charge of money laundering at the end of its case.
What the financial evidence showed
Albert Ciorma, a forensic accountant with the Ontario Securities Commission, testified earlier in the trial. He said investors gave Pleterski more than $36.3 million. None of it was sent to FXChoice.
Ciorma said Pleterski spent about $5.6 million on luxury vehicles and $4.9 million on credit card bills. He said another $870,000 went to travel and private jets, and $598,000 went to security.
Pleterski also gave nearly $3.7 million to his parents, Ciorma said. He took $609,000 in credit card cash advances. Those expenses total more than $16.3 million, and Pleterski paid out another $16.1 million to investors.
Aurora used the case of investor Sacha Singh as an example. Singh gave Pleterski $1.3 million. He was later paid back $700,000 of his own money from the same account.
The $311 million account
Jurors heard that Pleterski showed worried investors screenshots and a video of a $311 million balance in the spring of 2022. They also heard a recording in which he admitted the fund never existed.
Aurora said the account never held more than $12,000. He said only about $4,000 ever came from cryptocurrency or foreign exchange sources. He also pointed to evidence that the account had been deleted.
Aurora called Pleterski “the architect of this scheme” and said every dollar spent was his decision. If convicted, Pleterski faces up to 14 years in prison.
Separately, five men were charged with kidnapping and torturing Pleterski in 2022. Some were reportedly victims of his scheme. One of them, Deren Akyeam-Pong, pleaded guilty to nine charges and awaits sentencing.
