An Ontario man facing charges of money laundering for an international drug smuggling ring had his financial records closely examined in a Toronto court on Monday in his attempt to secure pre-extradition release. Rolan Sokolovski was questioned by prosecutors regarding his tax filings, financial documents from his jewelry business Diamond Tsar, and his income from poker and cryptocurrency trading, which he claimed supported his lifestyle for nearly a decade.
Sokolovski, a citizen of both Lithuania and Canada, stated that he earned over $100,000 annually from poker activities and cryptocurrency investments from 2013 to 2020. He acknowledged that he did not report these earnings to the Canada Revenue Agency, believing that gambling proceeds were not taxable. He equated cryptocurrency trading to gambling and considered it exempt from tax reporting.
Last fall, Sokolovski was arrested, along with other Canadians, for allegedly collaborating with former Olympic snowboarder Ryan Wedding, a suspected drug lord on the FBI’s most wanted list. U.S. authorities accused Sokolovski, 37, of managing the organization’s finances, procuring luxury items for Wedding, and creating a “bejewelled necklace” as payment for a murder.
The court is scheduled to hear from potential supervisors for Sokolovski if he is released on bail this week. Justice Peter Bawden of the Ontario Superior Court ordered on Monday that any details identifying the prospective sureties must not be disclosed to mitigate the risk of potential harm or danger to them.
Sokolovski’s legal team had requested to shield the identities of the sureties last week, citing safety concerns. Prosecutors countered by suggesting only their addresses should remain confidential. The bail hearing has been allocated several days for proceedings.
Prosecutors are contesting Sokolovski’s release, arguing for his detention to safeguard the public, uphold faith in the legal system, and prevent potential flight risks.