Aiden Pleterski, the Canadian investor who called himself the ‘crypto king,’ is due to stand trial in Ontario’s Superior Court of Justice on October 5. He is expected to represent himself after failing to secure a delay to obtain legal counsel, CBC News reported Monday. The proceedings are expected to last about four weeks.
Pleterski was charged in May 2024 with fraud over C$5,000 and laundering proceeds of crime. The Ontario Securities Commission’s announcement identified the case as part of Project Swan, a joint investigation with Durham Regional Police. The trial will begin more than two years after those charges were filed.
The case concerns allegations that Pleterski solicited money for cryptocurrency investments while promising large weekly returns. Under Canada’s Criminal Code, fraud involving more than C$5,000 carries a maximum prison sentence of 14 years if a defendant is convicted. The charges against Pleterski remain allegations to be tested at trial.
The OSC and Durham police have urged investors to check the registration of anyone offering investments or investment advice. Separately, Canada has introduced tighter custody standards for regulated crypto platforms, another measure aimed at reducing losses and strengthening safeguards for client assets.
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