MONTGOMERY, Ala. (WSFA) — A man from California has been arrested in Alabama after allegedly defrauding a Montgomery resident out of more than $300,000, according to court documents.
The Alabama Securities Commission initiated the investigation after a financial group raised concerns about possible financial exploitation of an elderly individual.
Court records reveal that Kuan Tsou, from Diamond Bar, California, along with an unidentified accomplice, convinced the victim to invest in a fraudulent platform by misleading them into believing they owed fees exceeding $300,000.
On August 22, Tsou traveled from California to Montgomery to collect the money. He was subsequently arrested and charged with aggravated theft by deception.
Tsou is currently held at the Montgomery County Detention Facility on a $1 million bond.
Authorities continue to investigate the case, and no additional information has been released at this time.
