(Photo courtesy of © Can Stock Photo / devon.)(Photo courtesy of © Can Stock Photo / devon.)

Financial advisor charged after clients bilked out of $1.5M

Charges have been laid against a financial advisor who police allege ripped off his clients to the tune of $1.5 million.

According to London police, 40-year-old Chanrith Yin of London is accused of convincing several clients to move their money from one investment firm to one that he created. Police accuse Yin of providing misinformation to his clients, who moved their money to the company he started, called Nobris Group Property Management. The alleged fraud is said by police to have occurred between 2014 and 2020.

"The clients became aware that they had been defrauded of various sums of money in 2019, when they asked for their returns on investment," police said in a statement released Wednesday.

An investigation was launched in March and Yin turned himself in at police headquarters on Tuesday. He is charged with fraud over $5,000 and possession of property obtained by crime.

"The scope of this investigation was confined to offences committed in relation to six individual investors, however, investigators believe there may be more victims," police said.

Anyone with information in relation to this incident or similar incidents is asked to call the London Police Service at (519) 661-5670 or Crime Stoppers at 1-800-222-TIPS (8477). Information can also be sent in online anonymously to www.londoncrimestoppers.com.

Read More Local Stories