Plooto

Hamed Abbasi, former CEO of Toronto fintech Plooto, has been acquitted of a 2023 sexual assault charge. Ontario Court Justice Jennifer Strasberg ruled the Crown failed to prove beyond a reasonable doubt that the complainant did not consent. Abbasi, who stepped down from Plooto in March 2024, was represented by Gerald Chan of Stockwoods LLP.

The trial featured surveillance footage, text messages, and expert testimony. Strasberg found both Abbasi and the complainant credible, ultimately concluding that consent was present. Abbasi currently holds no operational role at Plooto and has not commented on his future involvement.

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Hamed Abbasi, co-founder and former CEO of Toronto-based fintech firm Plooto, is currently on trial for an alleged sexual assault that occurred in November 2023. Abbasi was arrested by Toronto Police on November 26, and the case is being heard in the Ontario Court of Justice.

Plooto announced Abbasi’s departure in March 2024 without explanation. The fintech firm, backed by investors like Deloitte Ventures and Inovia Capital, employs 130 people and serves over 10,000 customers. Abbasi’s lawyer, Gerald Chan, maintains his client’s innocence and stated Abbasi has fully stepped away from Plooto.

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