Banknote Capital Fraud Trial Begins | Toronto News

Two ex-directors of Banknote Capital, Michael Dziedzic and Justin Foss, are on trial for allegedly running a massive Ponzi scheme that stole millions from investors between 2020 and 2023 — using funds from new investors to pay earlier ones after initially sending $3 million to “Crypto King” Aiden Pleterski. A third director, Ryan Rumble — believed to be in Dubai and facing separate fraud and forgery charges — remains at large despite a Canada-wide warrant. Testimonies from investors reveal how they were misled: one was told her investment was guaranteed and had never heard of Pleterski; another invested heavily, received partial payouts, then saw payments vanish — even as Rumble promised repayment via a family trust. Surprisingly, one investor still does business with the accused. The trial is expected to continue through the week and resume in October. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/b7f420ed3e59805a