He Handed a ‘Bitcoin Investor’ Over $500K, Then FedExed $165K in Cash. Police Found the Suspect in Jail
BTC when published $82,734Now $80,599 ▼ −2.58% since it was published
An Escanaba, Michigan, resident reported losing approximately $665,000 to someone posing as a cryptocurrency investor, according to state police. Michigan State Police identified the suspect as Zhong Jiang, 34, formerly of Orland Hills, Illinois. Detectives at the Gladstone Post began investigating in July 2026 after receiving a complaint from the Escanaba resident. Wisconsin court records document a separate investment-fraud prosecution and the extradition process that brought Jiang to Michigan. On October 19, Jiang was arraigned in Michigan’s 94th District Court on one felony count of larceny by conversion involving $100,000 or more. His bond was set at $400,000 cash or surety, with another hearing scheduled for October 29. Michigan State Police announced the arrest on October 21.
First reported by Wealth of Geeks. This page is a short excerpt; the full text is theirs.
