LPS charge man for defrauding $600,000 in investment scam
Landon Hickok
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A man from Delta B.C. has been arrested and charged in connection with an alleged financial scam involving a victim from Lethbridge.
Last November a 59-year-old man from Lethbridge reported to police that he had been the victim of a scam after conversing online about investment opportunities. An investigation by the Economic Crimes Unit determined that during the summer of 2024, the victim made multiple wire transfers.
The suspect allegedly converted the funds into cryptocurrency and deposited the funds into accounts outside Canadian jurisdiction where they were unable to be recovered. Police say in total the victim lost about $600,000.
After a Canada wide warrant was issued, 36-year-old I Lin Chiu was arrested last Wednesday in B.C. and charged with possession of property over $5,000 and laundering the proceeds of crime. Chiu was released from custody and is scheduled to appear at the Lethbridge courthouse on January 20th.
