Aiden Pleterski, the self-proclaimed Crypto King, allegedly spent nearly half of the $36.3 million investors entrusted to him on personal luxuries between 2020 and 2022. According to testimony from a senior forensic accountant at Pleterski’s trial in Toronto’s Superior Court, the 27-year-old directed $16.3 million toward cars, credit cards, private jets, security, and even cash advances, while only returning $16.1 million to investors.
The accountant, Albert Ciorma, revealed that none of the funds were ever sent to FXChoice, the trading platform specified in the contracts with investors. Instead, Pleterski allocated $5.6 million to luxury vehicles, $4.9 million to credit card bills, $870,000 to travel, and $598,000 to security. He also transferred nearly $3.7 million to his parents.
Pleterski’s trial, which began last week, centers on charges of fraud over $5,000 and money laundering. The Crown alleges that Pleterski guaranteed trading returns but never actually invested the funds. Investors testified to receiving texts about weekly gains of 2% to 10%, but most claimed they never recovered their money.
Ciorma’s audit uncovered a pattern of investor funds flowing into Pleterski’s accounts and then being spent on high-end expenses, including a $84,000 Miami property rental and a $95,200 payment to the Toronto Blue Jays. The trial continues, with further testimony from the forensic accountant expected.