A Delta, B.C. man, I Lin Chiu, 36, has been arrested in connection with a $600,000 financial scam targeting a victim in Lethbridge.
According to the Economic Crimes Unit, the victim, a 59-year-old man from Lethbridge, reported last November that he had been scammed after engaging in online investment discussions during the summer of 2024. Multiple wire transfers were allegedly made by the victim, which Chiu converted into cryptocurrency and deposited into accounts outside of Canada, making the funds unrecoverable.
Chiu was charged with possession of property over $5,000 and laundering the proceeds of crime. He was released from custody and is scheduled to appear at the Lethbridge courthouse on January 20.
Police warn investors to exercise caution when conducting online investment transactions and to verify the legitimacy of opportunities before sending money.
