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A Toronto jury on November 10, 2026, heard a recording of Aiden Pleterski, known as the “Crypto King,” asking his former landlord for up to $3 million to pay the men the Crown alleges were holding him, on the opening day of the kidnapping and extortion trial of three men.
The prosecution alleges that Pleterski was abducted on December 5, 2022, and held until December 8, when he was released. During that period, the Crown claims he was subjected to severe physical abuse, including waterboarding, cigarette burns and beatings with weapons.
Crown prosecutor Julia De Vuono told the jury that the alleged kidnapping stemmed from a “dispute over money.” She alleged that Heywood had invested a substantial amount of money with Pleterski, lost it and subsequently became involved in the investor’s bankruptcy proceedings.
De Vuono further described Heywood as the “driving force” behind the alleged kidnapping plan, presenting the case as an incident connected to a financial disagreement rather than a random abduction.
Heywood, Paladino and Henry are accused of kidnapping and extorting Pleterski. Paladino and Henry face additional charges relating to firearms, aggravated assault, assault with a weapon and assault causing bodily harm.
The prosecution also identified Deren Akyeam-Pong, who is not among the three defendants currently standing trial, as the alleged lead kidnapper. According to the Crown’s account, Paladino and Henry allegedly participated in carrying out the abduction alongside him.
The allegations remain matters for the court to determine. The defendants are entitled to the presumption of innocence unless proven guilty.
A significant part of the opening proceedings centred on testimony from Gupta, whose family business had a rent-to-own agreement with Pleterski for a property in Burlington, Ontario.
The property was reportedly worth approximately C$10 million in 2022. Gupta told the court that Pleterski stopped making rental payments in April of that year and never completed the purchase.
Gupta testified that Pleterski contacted him repeatedly in the early hours of December 6, 2022. After eventually answering one of the calls, he became concerned about the investor’s safety and contacted emergency services using his wife’s phone.
He said he kept both conversations running on speakerphone, allowing the 911 operator to hear his interaction with Pleterski.
In the recording played before the jury, Gupta told the emergency operator: “I’m on a phone call right now and I believe this person is being held, kidnapped.”
He also explained that Pleterski was not a personal friend but someone who had rented a property through his family’s business. During the call, he referred to the investor by the nickname that had attracted public attention.
The recording offered the jury an account of the alleged kidnapping as it unfolded, with Gupta attempting to establish Pleterski’s location while communicating with emergency services.
The recording also captured Pleterski repeatedly asking Gupta to obtain a substantial amount of money, which he said was needed to secure his release.
“I need my money, I need $2 \[million\] to $3 million, as soon as you can, so I can pay these guys,” Pleterski said in the recorded conversation.
Gupta testified that he struggled to establish where Pleterski was being held and explained that raising such a large amount of money within a short period would not be easy.
The testimony also shed light on the financial relationship between the two men before the alleged abduction. The rent-to-own arrangement involving the Burlington property had reportedly broken down months before the December incident, with Gupta saying that Pleterski had stopped paying rent in April 2022.
According to Gupta, another conversation with the investor involved arrangements for a meeting at a Tim Hortons location. He testified that the proposed meeting was organised under police direction, with the intention of handing Pleterski money.
The court was expected to hear an additional recording of that conversation as proceedings continued.
The testimony places the alleged kidnapping against the backdrop of Pleterski’s financial difficulties and the disputes surrounding money connected to his cryptocurrency activities. However, the financial disagreements described by witnesses do not, by themselves, establish the criminal responsibility of any of the defendants.
The recordings and Gupta’s testimony are expected to form part of the prosecution’s evidence as the jury considers the circumstances surrounding the alleged abduction.
The testimony is particularly significant because it gives the jury an opportunity to examine the circumstances surrounding the Crypto King’s alleged captivity through contemporaneous recordings rather than relying solely on accounts given after his release.
At 27, the Crypto King had become a prominent figure in Canada’s cryptocurrency scene before the events that led to the kidnapping investigation. His financial dealings and subsequent bankruptcy proceedings had already attracted considerable attention.
The prosecution’s account of the Crypto King’s treatment during captivity will be central to the case as jurors assess the allegations against the three defendants. The recordings may also help establish the sequence of events and the efforts made to secure his release.
The proceedings mark another stage in a case that has connected cryptocurrency-related financial disputes with allegations of serious violent crime.
Primary source: CBC report: Crypto King’s alleged kidnappers’ trial hears call Aiden Pleterski made to landlord asking for $3M
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