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TTY tycoon owes potato debt, villagers say

TTY tycoon owes potato debt, villagers say

TTY director-general Na Marady, a well-known Cambodian tycoon, has been accused of owing money to farmers from whom he bought potatoes on credit more than a year ago in Memot district’s Koki and Kompoan communes in Kampong Cham province.

The villagers complained on Friday that Na Marady still owes more than 30 million riels – about $7,500 – on a 100 million-riel ($25,000) debt incurred in early 2011.

“I don’t know why [Na Marady] owes by not paying like this,” said Ros Kheang, a villager who says he is owed an additional 7 million riels.

According to Ros Kheang, Na Marady had promised to buy villagers’ potatoes at a higher price than a Vietnamese company that was also interested.

“When we went to ask for payment, we never met. We only met his staff,” he said. “His staff said that the debt will stand until their boss orders them to pay, if they pay as promised.”

Farmer Heng Hak says Na Marady owes him nearly 2 million riels.

“He has owed me since March 2011. When we went to ask for payment, he said no one is clearly responsible [for this debt],” said Heng Hak. “I went to ask for payment many times.”

Na Marady could not be reached yesterday, but Heng Sarath, TTY’s deputy director-general, confirmed Na Marady owed the villagers.

He said he was unable to pay after an accountant absconded with a large amount of TTY’s funds.

“We will not dupe them. Before long, we will pay it all,” he said.

To contact the reporter on this story: Meas Sokchea at [email protected]

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