Aiden Pleterski, who calls himself the “Crypto King,” is standing trial in Ontario on charges of fraud and money laundering. According to testimony in court, investors entrusted Pleterski with US$36.3 million, nearly half of which was used for personal expenses.

A senior forensic accountant with the Ontario Securities Commission presented these figures at the Ontario Superior Court. The money was raised between 2020 and 2022; Pleterski also paid investors about US$16.1 million under the guise of “profits.”

Expenses included about $5.6 million on luxury cars, $4.9 million on credit card bills, $870,000 on travel and private planes, and $598,000 on security. Nearly another $3.7 million was transferred to Pleterski’s parents.

According to the accountant’s testimony, investors’ money was never transferred to FXChoice, the trading platform promised in the contract. Only about $113,000 was transferred to other forex and cryptocurrency platforms.

Prosecutors allege that Pleterski promised investment returns but did not actually trade, instead using the money for personal expenses. Pleterski denies the fraud and money laundering charges. The trial is ongoing.

Source: https://tintucbitcoin.com/vua-tien-so-canada-bi-cao-buoc-tieu-163-trieu-usd-cua-nha-dau-tu/

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