Aiden Pleterski, the Canadian social media figure who called himself a “crypto king,” is set to go on trial next week in a fraud case tied to alleged investor losses of about $30 million.
Pleterski is due to appear in Ontario’s Superior Court of Justice on Oct. 5. Authorities allege that between 2021 and 2022, he solicited money from followers and made false claims about generating “large weekly profits through savvy investments” in digital assets.
Canadian authorities charged Pleterski in May 2024 with fraud and money laundering. The criminal case is moving ahead more than two years after charges were filed in Canada, according to the report.
CBC News reported Monday that Pleterski failed to obtain a postponement that would have given him more time to retain counsel. He is now expected to represent himself at trial.
The proceedings are expected to last about four weeks. If convicted, he could face up to 14 years in prison on the fraud charge alone.
The allegations against Pleterski date back to a period of heavy turmoil across the crypto sector in 2022, when prices fell sharply and several companies entered bankruptcy proceedings. Cointelegraph noted that executives tied to collapsed crypto platforms FTX and Celsius later faced charges in the United States.
The case also drew attention because of a separate violent incident in December 2022. Several men, some reportedly victims of Pleterski’s scheme, allegedly kidnapped and tortured him for three days. They reportedly demanded that he repay them, threatened his life and his family, and forced him to speak on video about his role in the alleged fraud.