East Grand Forks (trfnews.i234.me) — A California man is facing charges after an alleged cryptocurrency scam investigation in Polk County.
Jimmy Chen, of Monterey Park, California, is charged in Polk County District Court.
Chen faces one felony count of attempted possession of stolen property.
He also faces one gross misdemeanor count of receiving stolen property.
The case is filed in Minnesota’s 9th Judicial District under court file 60-CR-26-496.
Investment Scam Reported
According to the complaint, East Grand Forks police were contacted March 30, 2026.
The report involved a suspected investment fraud case.
A man identified as A.I. had been messaging with an unfamiliar woman on Telegram.
The woman allegedly suggested he invest money in cryptocurrency.
A.I. was then told to contact a company called TEBBIT through Telegram.
The complaint says A.I. first mailed $1,000 cash to California.
He later invested another $51,000, according to court documents.
A courier allegedly came to East Grand Forks on February 19, 2026.
The courier collected cash from A.I.’s residence, according to the complaint.
When A.I. tried to withdraw money, he was told to send another $50,000.
A family member then warned him the investment was likely a scam.
Jimmy Chen
Police Set Up Cash Pickup
Investigators later used A.I.’s Telegram account during the investigation.
They arranged a pickup involving $30,000 in claimed withdrawal funds.
The complaint says TEBBIT identified a courier using the name “Tom.”
The courier was expected to present a marked one-dollar bill.
On April 15, 2026, law enforcement waited at A.I.’s residence.
A vehicle arrived at about 1:16 p.m., according to the complaint.
A man approached the home and identified himself as “Tom.”
An officer posing as A.I.’s grandson handed him a cardboard box.
The box contained $1,000 cash and paper used as dummy money.
Authorities then confronted the man and identified him as Jimmy Chen.
Charges Filed In Polk County
Chen allegedly told investigators he had traveled from California.
He said he was asked to collect money for people on Telegram.
The complaint says Chen expected to receive 2% for expenses and time.
Chen also allegedly said he had collected $40,000 in Kansas one week earlier.
Investigators reported finding socks and rubber bands in Chen’s backpack.
The complaint says Chen stated he used socks to hide cash while traveling.
The felony charge is listed under Minnesota Statute 609.53.
The attempt statute is listed under Minnesota Statute 609.17.
The felony count carries up to 2.5 years in prison.
It also carries a possible $5,000 fine, or both.
The charges are only accusations at this stage.
Chen is presumed innocent unless proven guilty in court.
Consumer fraud information is available through the Federal Trade Commission.
More case information may be available through the Minnesota Judicial Branch.
I’m Chris Harper reporting for TRF News.
Is theft by swindle the same as scamming?