Aiden Pleterski, who called himself the "Crypto King," is scheduled to stand trial on Oct. 5 in the Ontario Superior Court of Justice in Canada over alleged cryptocurrency fraud. Prosecutors accuse him of raising money from investors between 2021 and 2022 by making false promises that "smart investing" would generate high weekly returns, with the alleged fraud totaling about $30 million. Canadian authorities filed fraud and money laundering charges against him in May 2024. According to CBC News, Pleterski was denied a delay that would have allowed him to hire a lawyer and is expected to represent himself at trial. The proceedings are expected to last about four weeks. On the fraud count alone, he faces a maximum sentence of 14 years in prison if convicted. The case also comes after a separate 2022 incident in which several men, some reportedly victims of the alleged scheme, were accused of kidnapping and torturing Pleterski for three days and forcing him to record a video about his role in the alleged fraud.
Aiden Pleterski, the self-described "Crypto King," is set to go on criminal trial on Oct. 5 in the Ontario Superior Court of Justice in Canada over an alleged cryptocurrency fraud case.
He is accused of raising money from investors between 2021 and 2022 by falsely promising that "smart investing" would deliver high weekly profits. The alleged fraud amount is about $30 million. Canadian authorities filed fraud and money laundering charges against him in May 2024.
According to CBC News, Pleterski was not granted an adjournment to hire a lawyer and is expected to appear in court representing himself. The trial is expected to run for about four weeks. On the fraud charge alone, he could face up to 14 years in prison if convicted.
In December 2022, several men, some of whom were reportedly victims of the alleged scheme, were accused of kidnapping and torturing Pleterski for three days. They allegedly threatened him and his family and forced him to record a video describing his role in the alleged fraud.
Pleterski was one of several high-profile figures in the crypto industry to face criminal charges during the 2022 market downturn. Executives tied to the now-bankrupt FTX and Celsius later also faced charges in the United States.
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