Kingman Man Loses $113,000 in Cryptocurrency Scam Following Social Media Encounter
Mohave County, AZ – A Kingman-area resident has reported a significant cryptocurrency scam that resulted in a loss exceeding $113,000. The elaborate ruse, involving cash drop-offs and a distinctive “courier” identification method, unfolded after the victim established contact with the suspect through social media, according to the Mohave County Sheriff’s Office.
The victim first befriended the individual online approximately six months ago. During their interaction, the suspect persuaded the victim to invest money in cryptocurrency ventures. Over several months, the victim handed over cash on three separate occasions, amounting to a total of $113,000. To lend credibility to the scam, the victim was given access to a fraudulent phone application that displayed fabricated investment balances and purported interest earnings. The scam involved a unique system where the victim would photograph the cash before handing it over. In response, the suspect would send a photo of a one-dollar bill, which served as a distinct marker for the "courier" tasked with collecting the funds.
The transactions took place in the parking lot of a local business located in the 3700 block of North Stockton Hill Road. Each time, the courier would present the one-dollar bill image to the victim before receiving the cash.
Once the victim realized the deception and reported the fraud on May 21, 2026, the suspect continued to communicate and even requested additional cash sums — initially $100,000, later reduced to $65,000. Working covertly, Mohave County Sheriff’s detectives assumed the victim’s identity and coordinated the transfer of staged cash photographs with assistance from a local bank.
On Friday, June 12, 2026, law enforcement conducted a takedown operation at the same North Stockton Hill Road location. At approximately 12:12 p.m., officers arrested the suspect without incident.
The individual in custody is identified as Jay Jin Xia, 40, from Hacienda Heights, California. Authorities recovered incriminating evidence, including the phone used for the fraud communications and the one-dollar bill that linked Xia directly to the scheme.
Xia was booked into the Mohave County Adult Detention Facility on fraud charges, with further charges pending as the investigation continues.
The Mohave County Sheriff’s Office, along with the Kingman Police Department Street Crimes Unit, urged the public to exercise caution when conducting financial transactions promoted through social media platforms and stressed the importance of verifying the legitimacy of cryptocurrency investments.
Key Details:
- Victim lost over $113,000 through multiple cash drop-offs.
- Fraud perpetrated using a fake investment app and courier system.
- Suspect arrested during a sting operation.
- Ongoing investigation with additional charges possible.
Community members are reminded to remain vigilant and report any suspicious financial schemes to local law enforcement.