Representing himself in a Toronto courtroom, Aiden Pleterski denied defrauding investors while Crown prosecutors argued that millions of dollars entrusted to him financed an extravagant lifestyle rather than legitimate investments.
Self-described “Crypto King” Aiden Pleterski addressed jurors for the first time during closing arguments at his fraud trial in Toronto, maintaining his innocence in a brief statement. The 27-year-old, who represented himself throughout the proceedings, told the jury that he had pleaded not guilty because he did not commit the alleged offence. He also argued that having legal representation would have allowed him to demonstrate his innocence. Pleterski faces one charge of fraud over $5,000 after prosecutors withdrew a separate money laundering charge at the conclusion of the Crown’s case.
Crown prosecutor Akshay Aurora delivered approximately 90 minutes of closing arguments, accusing Pleterski of deliberately misleading investors and using their money for personal expenses. Aurora maintained that funds entrusted to Pleterski were never deposited into the FXChoice trading platform identified in investors’ contracts. Instead, prosecutors alleged that the money was redirected toward luxury vehicles, private flights, credit card payments and repayments to other investors. Aurora argued that the financial evidence demonstrated a pattern of deception rather than legitimate investment activity.
The prosecution relied heavily on findings presented by Ontario Securities Commission forensic accountant Albert Ciorma, who examined Pleterski’s financial records. Ciorma testified that investors transferred more than $36.3 million to Pleterski, with none of those funds reaching the designated FXChoice platform. His analysis identified more than $16.3 million in personal expenditures, including approximately $5.6 million on luxury vehicles, $4.9 million in credit card payments, $870,000 on travel and private jets, and $598,000 on security. Pleterski also transferred nearly $3.7 million to his parents and withdrew approximately $609,000 through credit card cash advances. Another $16.1 million was distributed to investors.
Aurora highlighted individual transactions to illustrate how investor contributions were allegedly recycled through Pleterski’s accounts. In one example, investor Sacha Singh provided approximately $1.3 million, with financial records showing that $700,000 was subsequently returned to him from the same account. Prosecutors also challenged Pleterski’s claims about a purported $311 million trading balance. Jurors heard evidence that he had circulated screenshots and videos showing the alleged funds, despite an audio recording in which he acknowledged that the account never contained that amount. According to the Crown, the account’s highest recorded balance was approximately $12,000, while Pleterski’s cryptocurrency and foreign exchange trading activities generated losses rather than profits.
Pleterski did not testify or present evidence in his defence and cross-examined only the first of the Crown’s 14 witnesses. During the proceedings, he repeatedly expressed uncertainty about questioning witnesses and indicated that he needed a lawyer. In closing, Aurora argued that Pleterski controlled the financial decisions underlying the alleged scheme and knowingly deceived investors between July 2020 and July 2022. Justice Shaun Nakatsuru began delivering instructions to the jury on Wednesday, with deliberations expected to begin Thursday after the judge completed his charge. Pleterski’s fraud allegation remains unproven, and the jury must determine whether the Crown has established guilt beyond a reasonable doubt.
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Originally published on Canadian Fraud News.