AI-generated illustration; not a photograph of the reported event.
- calendar_today October 26, 2026
Aiden Pleterski's Fraud Trial Hears Key Audio Admission
The ongoing fraud trial of self-described "Crypto King" Aiden Pleterski in Toronto took a significant turn as the court heard a June 2022 audio recording in which Pleterski admits that the $300-million investment fund he promoted to investors "never existed." The recording was played during proceedings at the Ontario Superior Court, where Pleterski, 27, faces charges of fraud over $5,000 and money laundering.
Retired Police Officer Testifies About Investment Loss
Chris Winn, a retired Durham Regional Police officer and one of three investors present for the recorded meeting, began testifying remotely on Monday. Winn, who invested a combined $450,000 with Pleterski both personally and through a holding company, said he received $330,000 back. He described attending two meetings at another investor's home with Pleterski and recounted Pleterski's explanations regarding investor funds.
"He told us basically he hadn't traded any of the money and basically it's a Ponzi scheme," stated Winn during his testimony.
Key Exchanges Reveal Details of the Alleged Scheme
Near the start of the three-hour audio recording, Brad Rogers and Jason Affleck, also investors, questioned Pleterski about the supposed $300 million fund. Pleterski confirmed, "It never existed." When pressed about the legitimacy of the screenshots showing large balances on the FXChoice trading platform, Pleterski indicated that images shown to investors were not genuine. He said, "That account basically never existed." This was corroborated by the testimony of Mitchell Learning, a previous investor and Pleterski's former friend, who discovered an email indicating Pleterski had deleted his FXChoice account.
Learning testified that Pleterski admitted to losing investors' money the previous year and had been repaying some investors using funds collected from others since then.
Investors Propose Asset Liquidation, Citing Betrayal
During the recorded meeting, investors suggested Pleterski should liquidate his assets and place them under investor supervision to attempt to recover their losses. They repeatedly mentioned a lack of trust in Pleterski, referencing his alleged dishonesty and the possibility of criminal consequences. Chris Winn declared, "This is one of the biggest Ponzi schemes in f–king Ontario. It'll be front page of the paper."
Pleterski, representing himself at trial, defended his intentions, saying, "If I had a malicious intent with any of this, I wouldn't be sitting in front of you guys, I'd be on a f--king plane getting out of here right now... but I'm sitting here trying to make it right." He noted that stress had affected his trading ability, despite claiming expertise in the field.
Forensic Accountant Testifies to Luxury Expenditures
The prosecution presented evidence from forensic accountant Albert Ciorma of the Ontario Securities Commission, who testified that Pleterski received over $36.3 million from investors and did not send any funds to FXChoice as stipulated by investor contracts. Instead, Ciorma's review found Pleterski spent around $16.3 million on personal expenses, including $5.6 million on luxury vehicles, $4.9 million on credit cards, $870,000 on travel and jets, and $598,000 on security. Nearly $3.7 million went to Pleterski's parents and $609,000 was withdrawn as cash advances. Additionally, $16.1 million was paid back to investors, which the Crown suggests is consistent with a Ponzi scheme.
Next Steps in the Trial
The court expects to hear the remainder of Winn's testimony and the rest of the investor meeting recording Monday afternoon. Following the conclusion of Crown witnesses, Pleterski will have the opportunity to call witnesses and testify in his own defense, should he choose to do so.
Source: cbc.ca.
