Over 230 people, representing 1,094 families who claim they were cheated in a US$100 million land fraud that has affected thousands of Cambodian families, protested in Phnom Penh on Sunday. - Photo: Khmer Times
PHNOM PENH (Khmer Times): Over 230 people, representing 1,094 families who claim they were cheated in a US$100 million land fraud that has affected thousands of Cambodian families, protested in Phnom Penh on Sunday.
The protesters marched to Taing Sin Hong Kaw Office in Borey Piphop Thmey 2, # 101, Street 02, Thmey Village, Sangkat Dangkor, Khan Dangkor, Phnom Penh, at 10:15 am on July 14, 2024, in order to defend and file a complaint to Phnom Penh Municipal Court, according to the police of Dangkor district.
Hy Kimhong, Chairman of the Board of Piphup Deimeas Investment Co., Ltd. (Piphup Deimeas Investment Co., Ltd.) is accused of being complicit in a US$100 million land fraud that has affected thousands of Cambodian families.
Photo from Khmer Times.
Hy has been charged by Phnom Penh Municipal Court Deputy Prosecutor Seng Heang with “aggravated fraud” under Article 380 of the Penal Code.
Kampot Provincial Police Chief Major General Mao Chanmathurith stated that on August 9 2023 that 1,105 families in the province filed complaints against the company over the alleged investment fraud.
Most of the victims borrowed the money from banks to invest in the company’s land project, in order to gain a monthly return on their investment. They never received any payment from the company, causing them to get into debt with the banks, Maj Gen Chanmathurith said.
In May, His Majesty King Norodom Sihamoni, King of Cambodia, ordered the termination of the title of “Oknha” from Hy Kimhong. - Khmer Times
