A Delta man faces charges after a Lethbridge investor lost nearly $600K in a crypto scam. Police urge caution as online investment frauds rise.
A Routine Chat Turns Into a Huge Loss
A simple online conversation turned into a costly nightmare for a Lethbridge man. After weeks of friendly messages about “easy investment wins,” he sent large sums of money, believing he had found a smart opportunity. Yet the promise faded fast, and nearly $600,000 disappeared.
How the Scam Unfolded
According to police, the victim wired money several times between June and August last year. Each time, the man on the other end shifted the funds into cryptocurrency. Then, as the money moved again this time to an offshore crypto exchange it slipped beyond reach.
A Long Investigation Leads to an Arrest
Because the money left Canada, recovery became almost impossible. Even so, investigators stayed on the case. After months of work, officers identified a suspect and issued a Canada-wide warrant.
On November 26, officers arrested I Lin Chiu, a 36-year-old man from Delta, without any trouble. He now faces charges for possessing property over $5,000 and for laundering the proceeds of crime. He has been released and is set to appear in court on January 20, 2026.
Police Warn Investors: Slow Down and Double Check
Police say scams like this rise fast because many people rush into deals that appear simple. And since the fraudsters push for quick decisions, victims often act before they pause to think.
They urge everyone to be cautious with investment offers that:
- Promise fast, easy profits
- Come from strangers online
- Claim to involve “inside information”
- Arrive through texts, calls, or social media messages
How to Protect Yourself From Investment Tricks
Police offer several tips to avoid falling for schemes, especially those tied to crypto:
- Research every company through reliable, official sites.
- Verify registrations using your provincial securities regulator.
- Check for warnings on national and provincial investor-protection websites.
- Understand crypto risks, since crypto payments can’t be reversed.
- Be wary of companies based outside Canada, because recovering funds becomes even harder.
A Final Reminder
Because fraud spreads quickly online, police stress the same message again and again: take your time. A few extra minutes of checking could save your savings.
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