Toronto jeweller says he treated crypto gains like gambling at bail hearing

Rolan Sokolovski told a Toronto bail hearing he did not declare crypto profits because he thought they were like gambling; he remains in custody on U.S. charges and extradition proceedings are pending.

Rolan Sokolovski, a Toronto jeweller and former professional poker player, testified at a bail hearing in Toronto after his November arrest on U.S. charges. Prosecutors questioned him about substantial poker winnings and about cryptocurrency gains he said he did not report to Canadian tax authorities. Sokolovski told the court he believed crypto profits were the same as gambling and therefore not taxable. The Crown opposes his release and his lawyer has offered a $2-million pledge as part of a bail plan. Key facts: - Sokolovski said he earned income from jewellery sales, poker and cryptocurrency and did not declare certain crypto gains to tax authorities because he treated them like gambling. - He estimated his crypto trading gains in 2024 at roughly $150,000–$200,000. - He was arrested in November on U.S. charges alleging involvement in laundering funds tied to Ryan Wedding, and the Crown is opposing his release. - He has offered a $2-million pledge in his bid for release while extradition proceedings are pending. Summary: Officials allege Sokolovski played a role in laundering funds for an organization tied to Ryan Wedding. He remains in custody after the bail hearing and the Crown is opposing his release. Extradition proceedings to the United States are pending and his bail request is under consideration.