A Canadian court has heard evidence that self-described “Crypto King” Aiden Pleterski allegedly used about $16.3 million in investor money for personal spending rather than for the cryptocurrency and foreign-exchange trading investors were told to expect.

Pleterski has pleaded not guilty to the criminal charges against him. The trial is continuing, and the claims presented so far remain allegations and witness testimony before the court rather than established findings of guilt.

Accountant outlines investor money flows

Testimony from a forensic accountant described the movement of funds during the period under review. According to that evidence, Pleterski received about $36.3 million from investors.

The court heard that only a comparatively small share of that money was directed into trading accounts. Prosecutors say a significant portion was instead used for personal expenses or to make payments to other investors.

Luxury purchases described in testimony

The spending outlined in court included high-end vehicles, travel and other lifestyle costs. Prosecutors argue those transactions were inconsistent with representations that investor funds would be deployed in crypto and forex trading.

That account of the spending formed part of the broader prosecution case that investors were misled about how their money was being handled. The court has not yet reached a verdict on those allegations.

Not guilty plea keeps focus on active trial

Pleterski has denied the charges and entered a not guilty plea. As a result, the evidence now being aired in court is part of an active criminal proceeding and remains subject to challenge by the defense.

The case has drawn additional public attention because Pleterski was previously the victim of a widely reported kidnapping and assault linked to the underlying financial dispute. That episode has added to interest in the trial, but the criminal case now before the court will turn on the evidence presented to the jury.

What comes next

The next confirmed step is the continuation of the criminal trial, where the jury will assess whether the prosecution has proved wrongdoing based on the testimony and financial records presented.

Until that process is complete, the figures discussed in court — including the roughly $36.3 million raised and the alleged $16.3 million spent on personal expenses — should be understood as part of an ongoing prosecution, not a final judicial determination.

Source: bitcoinist.com