A 40-year-old financial adviser is facing charges from London police over allegations he defrauded six of his clients out of $1.5 million as part of a multi-year phony investment scheme.
It was between 2014 and 2020 that the accused is alleged to have advised the six clients to move money from one investment company to a firm called “Nobis Group Property Management” — a firm that the accused had created.
“The suspect provided misinformation to clients, and persuaded them to invest a total of $1.5 million in ‘Nobis,'” police said Wednesday, adding that the clients later caught wind of the scheme in 2019 after asking for their returns on investment.
Police began investigating the matter in March, and say the accused walked into police headquarters on Tuesday and turned himself in.
Chanrith Yin, 40, of London faces a charge of fraud over $5,000 and posession of property obtained by crime.
He was released from custody with a Jan. 21, 2021 court date.
Police said while their probe was limited to the allegations involving the six investors, they believe there may be more victims.
Anyone with additional information is asked to contact police or Crime Stoppers.
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