GATLINBURG, TN (Story courtesy of WVLT) – The Gatlinburg Police Department said a Canadian man has been arrested after he allegedly scammed an elderly Gatlinburg man out of $200,000.

An investigation began on Monday when GPD said it received a report of possible internet fraud.

The victim was initially contacted through Facebook in early July and was persuaded to invest in what was presented as a legitimate investment opportunity, GPD said.

After making an initial investment of $2,000, GPD said he was urged to give additional money to grow the investment. During an in-person meeting on July 21, he gave people who identified themselves as communications staff of the purported investment firm $200,000 in cash.

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GPD said after adding the cash to the initial investment, his investment reached $1.3 million, but when he tried to withdraw the money, he was told an additional $280,000 in taxes were required.

Recognizing the potential fraud, GPD said the victim contacted them on Monday and said a meeting was scheduled the following day. He was also prepared to pay the individuals the taxes during the meeting.

Following an investigation, GPD said 31-year-old Yin Yiin Cheng, of Burnaby, British Columbia, was taken into custody Wednesday on several charges, including fraud, theft and financial exploitation of an elderly or vulnerable adult.

“This arrest is the result of quick action and strong collaboration between local law enforcement agencies,” Gatlinburg Police Chief Ronnie Barrett said. “Scammers who prey on the elderly exploit trust and we are committed to protecting our community from these crimes. We encourage residents to remain vigilant, verify unsolicited financial offers, and contact authorities whenever something feels suspicious.”

Cheng’s car and its contents were seized as evidence and are awaiting signed search warrants to examine, GPD said.