BRECKSVILLE, OH (WOIO) - A suspected con man is facing charges. Police say he scammed a local guy out of $100,000! Investigators say the victim invested in a Chinese basketball team that didn't exist.
Brecksville police say a man from their town somehow received letters and e-mails from Shihsiang Liao. The victim even met up with Liao in New York.
According to police the victim agreed to invest $100,000 in a Chinese basketball team but it soon became clear it was all a con game. In fact, Brecksville Police followed the money and it was transferred into a fund that had only $2.00 in it before the big deposit.
Cops say as soon as the big money went in Liao took out $91,000.
Cuyahoga county prosecutors have indicted Liao for theft.
Liao is currently finishing up a prison term in New York for a mortgage scam. He could get out of prison on parole in December.
19 Action News was unable to contact the victim.