Charges have been laid in connection to a case of investment fraud. (Photo: Lethbridge News Now)

By David Opinko

Lethbridge Police charge man in $600K investment fraud

Dec 2, 2025 | 8:51 AM

A man from B.C. is in custody after allegedly committing fraud.

On November 30, 2024, the Lethbridge Police Service (LPS) says a 59-year-old man reported that he had been the victim of a scam.

The suspect and the victim had been conversing online about investment opportunities, and the victim provided what LPS describes as “significant” funds.

Members of the Economic Crimes Unit determined that between June and August 2024, the victim made multiple transfers to the suspect, who then converted the money into cryptocurrency and transferred it to an online exchange.

The suspect reportedly withdrew the funds and deposited them in crypto accounts outside of Canada, where police were unable to recover them.

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Officers undertook a lengthy and complex investigation, and following the issuing of a Canada-wide warrant, the suspect was arrested without incident in B.C. on Nov. 26, 2025.

I Lin Chiu, 36, of Delta, B.C, is charged with possession of property over $5,000 and laundering the proceeds of crime. Chiu was released from custody and is scheduled to appear in the Lethbridge Court of Justice on January 20, 2026.

LPS is advising the public to recognize red flags of investment opportunities, especially for ones that appear too good to be true. Some tips they provided include:

• Be wary about claims that you can make a lot of money with little or no risk, if someone gives you a ‘hot tip,’ or says they have insider information.
• Be careful with unsolicited investment opportunities offered over the Internet or phone, including a recommendation from a friend on social media or a text message from a stranger.
• Research the opportunity through credible sources and take your time before making a decision.
• Make sure you know the risks before investing in cryptocurrency. Cryptocurrency payments do not come with legal protections, and the payments are typically irreversible. Keep in mind that if the business is not located in Canada, it may be even more difficult (or impossible) to recover funds
• Fraudsters will try to rush you. Take your time before making a decision.
• Before you make a decision, verify if the investment companies are registered with your provincial securities agency and check out the company on the National Registration Search Tool.
• Check to see if a person or company has been flagged as a risk to investors on the Investment Industry Regulatory Organization of Canada and your provincial financial regulators.