Forensic accounting evidence presented at the fraud and money laundering trial of Canadian cryptocurrency promoter Aiden Pleterski indicates he allegedly spent more than $16.3 million of investor funds on luxury purchases and personal expenses. The self-proclaimed “Crypto King” received approximately $36.3 million from investors between 2020 and 2022, yet investigators found no transfers to the trading platform named in his investment agreements. Prosecutors allege the money was diverted toward personal spending rather than traded as promised.

The testimony emerged in Toronto on October 16, 2026, during the trial of the 27-year-old, who has pleaded not guilty to both charges.

Millions Traced to Vehicles, Credit Cards, and Travel

Albert Ciorma, a senior forensic accountant with the Ontario Securities Commission, the provincial regulator that administers and enforces Ontario’s securities laws, walked the court through financial records detailing how Pleterski allegedly handled investor money. In fraud proceedings, forensic accountants reconstruct fund flows from bank statements, card records, and transfer data to show where money actually moved. According to his testimony, approximately $5.6 million went toward luxury vehicles, while $4.9 million covered credit card bills. Another $870,000 funded travel and private jet expenses, and roughly $598,000 paid for security services.

Ciorma also identified nearly $3.7 million transferred to Pleterski’s parents and $609,000 in credit card cash advances. Taken together, the spending and transfers exceeded $16.3 million.

No Funds Reached Promised Trading Platform

Among the most significant findings concerned FXChoice, the trading platform identified in Pleterski’s investment contracts. Ciorma testified that none of the investor funds reached FXChoice, and only approximately $113,000 went to other foreign exchange and trading platforms. Measured against the roughly $36.3 million collected from investors, that trading-related outflow is a small fraction, a gap at the center of the prosecution’s allegation that the money was never deployed as the agreements described.

The accountant additionally identified approximately $16.1 million in payments made to investors using funds Pleterski had received. Prosecutors allege that Pleterski promised investment returns while diverting substantial amounts toward personal expenses instead of executing the agreed trading strategy.

Charges and Ongoing Proceedings

Canadian authorities charged Pleterski in May 2024 following an investigation involving the Ontario Securities Commission and Durham Regional Police, the police service for the Ontario region directly east of Toronto, as reported by Reuters.

Earlier testimony described investors who entrusted substantial savings to Pleterski after receiving promises of attractive trading returns. Some investors said they received updates suggesting their investments were consistent profits.

The latest forensic evidence adds financial detail to allegations that have attracted widespread attention across Canada’s cryptocurrency industry. The accountant’s findings remain evidence presented during an ongoing criminal trial, not a judicial determination of guilt. The court must still assess the prosecution’s allegations and the defense before reaching a verdict.