Real estate developer testifies he gave 'Crypto King’ Aiden Pleterski $4.5M to invest
Real estate developer Sacha Singh testified that he invested $4.5 million with Aiden Pleterski, a self-described crypto trader currently on trial for fraud. The Crown alleges Pleterski used investor funds for a lavish lifestyle rather than trading as promised.
Why it matters
This case highlights the risks of unregulated cryptocurrency investment schemes and the ongoing legal scrutiny of high-profile 'crypto influencers'.
Real estate developer Sacha Singh, who testified virtually at Pleterski's fraud trial in Toronto, said he first met the now-27-year-old at a restaurant in Pickering, Ont., in the spring of 2021.
"I know a lot of big entrepreneurs in the crypto space are younger kids," Singh told the jury in the Ontario Superior Court of Justice.
"I thought he was a sharp kid and could be one of those unicorns."
Singh signed a contract for his first investment of $10,000 cash that April. From there, the court was shown 22 more investment contracts between Singh and Pleterski totalling more than $4.5 million over the next 10 months.
Wire transfer receipts were shown for most of the contracts, which ranged from $10,000 to $1.3 million, but a few others included notes they were paid in cash.
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