MONTGOMERY, Ala. — A California man has been arrested in Montgomery for allegedly deceiving an elderly resident out of more than $300,000.
Court records state that on August 22, 27-year-old Kaun Yi Tsou from Diamond Bar, California, along with an unnamed co-conspirator, committed aggravated theft by deception. The victim, over 60 years old, was convinced to invest in a fraudulent platform and was told they owed fees exceeding $300,000.
Tsou reportedly traveled to Montgomery to meet the victim in person and received the money, which was delivered in a box.
The Alabama Securities Commission was alerted by LPL Financial in Montgomery, identifying the case as financial exploitation of an elderly person.
Tsou is currently held in the Montgomery County Detention Facility on a $1 million bond and faces charges of aggravated theft by deception.
