Court hears Pleterski spent $11.53M of $25.67M raised from investors on personal expenses
- —Personal spending included $3.96M on luxury cars, $3.47M on credit cards and $2.62M sent to his parents
- —About $870K went to travel and private jets, $598K to security and $609K was withdrawn as credit-card cash advances
- —No investor money reached FXChoice; only about $80K moved to other forex and crypto platforms
Why it matters: The case sets a benchmark for penalties in Canadian crypto fraud and could tighten disclosure requirements on how investor funds are moved.
Source: TokenPost