B.C. man charged with money laundering in online investment fraud

Lethbridge Police have charged a Delta, B.C. man with money laundering after a Lethbridge man was defrauded nearly $600,000 in an investment scam. 

On November 30, 2024, a 59-year-old male reported he had been the victim of a scam after conversing online about investment opportunities and providing significant funds. 

Members of the Economic Crimes Unit assumed the investigation and it was determined that between June and August 2024, the victim made multiple wire transfers to a male, who subsequently converted the funds into cryptocurrency and transferred them to an online exchange. The male subject ultimately withdrew the funds and deposited them in cryptocurrency accounts outside Canadian jurisdiction where they were unable to be recovered.

Following a lengthy and complex investigation, the subject was identified and a Canada-wide arrest warrant was issued. On November 26, he was arrested without incident in B.C.

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 Lethbridge Court of Justice on January 20, 2026. 

Police are reminding residents to recognize red flags and be wary of investment opportunities that sound too good to be true – they are.

• Be wary about claims you can make a lot of money with little or no risk, 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.