GATLINBURG, Tenn. — A Canadian man has been arrested in Gatlinburg after allegedly scamming a local elderly resident out of more than $200,000 in a fake investment scheme that began on Facebook, according to Gatlinburg Police.
Yin Yiin Cheng, 31, of Burnaby, British Columbia, was arrested on August 27 and is facing multiple charges, including:
Fraud
Theft
Financial exploitation of an elderly or vulnerable adult
The investigation began just two days earlier, on August 25, when police received a report from the victim, who said they were contacted online in early July with what appeared to be a legitimate investment opportunity.
How the Scam Worked
The victim was first persuaded to invest $2,000. After receiving supposed returns, they were encouraged to invest more. On July 21, the victim met in person with someone claiming to be a communications representative from the investment firm and handed over $200,000 in cash.
Later, the victim was told their “investment” had grown to $1.3 million—but to withdraw the money, they would need to pay an additional $280,000 in taxes.
At this point, the victim became suspicious and contacted police, who learned that a follow-up meeting was scheduled for the next day. Investigators worked quickly to prepare.
Arrest and Investigation
Cheng was taken into custody on August 27, during the planned meeting. His vehicle and contents were seized as evidence and are pending search warrants.
The arrest was part of a coordinated effort between:
Gatlinburg Police Department
Sevier County Sheriff’s Office Criminal Investigations Division
Narcotics Organized & Violent Crimes Apprehension (NOVA) Unit
Authorities have not disclosed whether additional suspects are involved but said the investigation is ongoing.
