A Canadian jury is preparing to decide whether Aiden Pleterski, who called himself the “Crypto King,” defrauded social media followers of about C$30 million between 2021 and 2022. Closing arguments have concluded, and jurors are expected to begin deliberations on Thursday after Justice Shaun Nakatsuru gives his final instructions. Pleterski denies the charges.
Pleterski denies fraud in closing arguments
Pleterski told the court he was not guilty and said that was why he had pleaded not guilty. He also argued that the facts could have been established if he had not been forced to defend himself. Pleterski represented himself at trial, without a lawyer to present his defence.
He was charged with fraud in 2024, after waiting more than two years for trial. The case centres on allegations that he used the promise of digital-asset investments to obtain money from social media followers. Jurors will assess the evidence presented at trial under the legal directions provided by the judge.
Fraud conviction could carry up to 14 years
If convicted of fraud, Pleterski could face up to 14 years in prison. The jury has not yet reached a verdict, and the allegations have not been established in court.
The trial comes as other criminal cases involving the crypto industry have drawn attention. Sam Bankman-Fried, the former chief executive of FTX, was convicted of fraud in the United States in 2023 and is serving a 25-year prison sentence. The cases involve different defendants, proceedings and facts; Pleterski’s fate rests with the Canadian jury.
Five others face separate kidnapping charges
In a separate criminal case, five men are accused of kidnapping and torturing Pleterski in 2022. Some are alleged to have been victims of his digital-asset scheme. The cases against the five defendants are at different stages. Deren Akyeam-Pong has pleaded guilty to nine charges and is awaiting sentencing.
The jury’s deliberations will determine whether Pleterski bears criminal responsibility for the fraud allegations. The kidnapping case is a separate proceeding, and its charges and guilty pleas are distinct from the verdict in Pleterski’s trial.