Cambodian-American businessman San Richer – who is accused of helping defraud an investor out of $1 million – won’t be released on bail, Phnom Penh Municipal Court judge In Vanvibol announced yesterday.
Richer is one of four suspects – including Sichan Siv, a former United States envoy to the UN – who allegedly solicited a $1 million investment in a rice export start-up from local businesswoman Eng Lykuong, only to disappear after accepting the money.
Sichan and fellow suspects Thomas Willems and William Nojay are believed to have left the country.
Reached by phone yesterday, Lykuong said that she supported the court’s decision.
“I appreciate this … [because] if the court let the suspect out on bail, the suspect will be able to escape since he has dual nationalities,” she said.
Lykuong is seeking the return of her $1 million, and a further $200,000 in damages.
Richer declined to answer journalists’ questions after the hearing.