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Logo of Phnom Penh Post newspaper Phnom Penh Post - Warning issued after Ponzi scheme busted

Warning issued after Ponzi scheme busted

Warning issued after Ponzi scheme busted

The Ministry of Interior and the Securities and Exchange Commission of Cambodia (SECC) issued a joint release yesterday announcing that investigations of Empire Big Capital Ltd (EBC) and related firms AIF and ICA showed the companies had engaged in investment fraud.

Authorities shut down EBC last year and arrested several of its staff on suspicion of operating a Ponzi scheme.

The release, dated July 8, urged victims of the fraud to take legal action, and warned the public to be wary of “risky” investment schemes promising high rates of return.

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