OMM Newsroom
A Toronto jury has found Aiden Pleterski, who described himself as the “Crypto King”, guilty of fraud after hearing evidence that he took millions of dollars from investors and spent the money on private jets and other luxuries, according to the BBC.
The jury reached its verdict on Thursday after a few hours of deliberation, convicting the 27-year-old of one count of fraud involving more than C$5,000 ($3,600; £2,900).
During the trial, Crown prosecutors called more than a dozen witnesses, including investors who said Pleterski had cheated them, as well as accountants and financial experts who testified about his scheme.
Pleterski pleaded not guilty and represented himself. He cross-examined one witness, presented no evidence and did not testify.
He was charged in May 2024 with fraud and money laundering after a 16-month joint investigation by Durham Regional Police and the Ontario Securities Commission. The money laundering charge was later dropped.
Durham Regional Police Chief Peter Moreira said at the time that the case could be the largest fraud investigation ever in the region.
Prosecutors presented evidence during the trial in Ontario’s Superior Court of Pleterski’s spending with investor funds. He is believed to have taken more than C$36m from investors and spent about half of it.
They said he used money sent to his company, “AP Private Equity Limited”, to take multiple private-jet trips and spend about C$5.6m on luxury vehicles.
Prosecutors also said he paid C$45,000 a month for a lakefront mansion in Burlington, Ontario, and accumulated C$4.9m in credit card bills.
Bankruptcy proceedings showed that Pleterski also bought a “McLaren” and a “BMW” for his parents, who had given him C$50,000 as a cryptocurrency investment. Other purchases included a “Louis Vuitton” bag, a “Burberry” coat and a 2017 “Bentley Bentayga”.
In closing arguments on Wednesday, Crown prosecutor Akshay Aurora told the jury that “Pleterski was no ‘Crypto King’”.
“He was a thief. A thief who stole investor money and used it as he pleased,” Aurora said, according to CBC News.
Pleterski was kidnapped in downtown Toronto in December 2022, before his arrest in May 2024. His captors demanded a large sum for his release.
In a video obtained by CBC News, a bruised and bloodied Pleterski said: “I’m sorry, I really am, I didn’t want to or mean to ruin anyone’s life.”
He was released three days later after being tortured, including through waterboarding, cigarette burns and beatings with golf clubs.
Pleterski is due back in court on 13 November for a sentencing hearing.
