Troy police arrest man over alleged online investment scam

The Troy Police Department arrested a 32-year-old man after authorities say he allegedly scammed hundreds of thousands of dollars from a resident.

Records show that Yanling Xie is charged with one count of false pretenses — $100,000 or more. Xie was arraigned on July 25 and received a $100,000 cash or surety bond.

Police say that on July 7, a resident reported being a victim of an online investment scam after joining a messaging group that discussed health and financial advice. Police say the group encouraged the resident to invest in U.S. and Chinese stocks and that they had access to an artificial intelligence program capable of predicting market trends.

Officials say that the resident made eight in-person payments between March and May 2026 as part of the alleged investment. The resident told police that when he attempted to withdraw the investment, he was told that additional payments were required before any releasing the funds.

Police worked with the resident to arrange a meeting with the suspects. On July 22, investigators observed Xie arriving at the meeting location and they took him into custody.

An investigation is ongoing.

Xie is due back in court for a probable cause conference on Aug. 6, according to records.