06/12/2014 01:27 EDT | Updated 08/12/2014 05:59 EDT

Calgary police charge man in $6 million investment and immigration scheme

CALGARY - A Calgary man has been arrested in a $6 million fraud and immigration scheme.

Police began an investigation four years ago.

An individual allegedly offered investors an opportunity to support his electronics importing business and asked for loans by way of a promissory note.

In return, investors would supposedly reap the financial benefits of the sale of electronics imported from Hong Kong and sold in the United States, but no money was paid out.

The investigation also alleges the accused offered assistance to help investors with their immigration process for a franchise fee.

Chi-Ho Chan, also known as Moses Chan, 38, is charged with two counts of fraud over $5,000.