Charges laid in alleged Ponzi scheme

By News Staff

Posted Jun 12, 2014 11:33 am.

This article is more than 5 years old.

Calgary police said they’ve uncovered an investment and immigration scheme that may have defrauded victims out of more than $6-million.

They said in the first scam, the suspect convinced people to invest in his electronics importing business, which police say ended up being a Ponzi scheme.

In the second scam, he allegedly offered assistance to potential immigrants in return for a substantial fee, but then never actually helped them.

38-year-old Chi Ho Chan, also known as Moses Chan, faces fraud charges.

Any other potential victims are encouraged to contact police or Crime Stoppers.

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