London (October 30, 2020) – The London police laid fraud charges against the financial advisor, Chanrith Yin, in relation to investment fraud. He is accused of bilking six of his clients out of $1.5 million during a six-year period. The police allege that he convinced the victims to invest in his own company ‘Nobis Group Property Management’ by providing misinformation. On October 27, he turned himself in. Investigators believe there may be more victims.
The London financial advisor, Chanrith Yin, is facing fraud charges after allegedly bilking six of his clients out of $1.5 million, according to a press release issued by the London police. The alleged investment fraud is dating back to 2014.
Six clients duped in investment fraud
Between 2014 and 2020, a London financial advisor allegedly convinced several of his clients to invest their money in his own company ‘Nobis Group Property Management’. Yin is accused of providing misinformation to his clients in order to persuade them.
In 2019, the investors asked for their returns on investment and subsequently became aware that they had been defrauded. In total, the six investors lost $1.5 million to Yin.
Investigators believe there may be more victims
In March 2020, the London police launched their investigation, which dealt with offenses committed to six victims, police said. Yin turned himself in on October 27. The police charged him with Fraud Over $5,000 and Possession of Property Obtained by Crime. Yin was released from custody and is scheduled to appear in London court on January 21, 2021.
Investigators believe there may be more victims. The investigation is still ongoing. Officers asked anyone with information in relation to this incident or similar incidents to call the London Police Service at (519) 661-5670 or Crime Stoppers at 1-800-222-TIPS (8477). Information can also be sent anonymously to www.londoncrimestoppers.com.