Logo of Phnom Penh Post newspaper Phnom Penh Post - MFI branch boss arrested in fraud case

MFI branch boss arrested in fraud case

Loch Cham Roeun, a former executive with Prasac, sits handcuffed after he was arrested in Siem Reap last week for fraud. Photo supplied
Loch Cham Roeun, a former executive with Prasac, sits handcuffed after he was arrested in Siem Reap last week for fraud. Photo supplied

MFI branch boss arrested in fraud case

The former chief executive of a local branch of microfinance institution Prasac in Kandal province has been arrested for allegedly defrauding victims out of roughly $160,000, according to a local official.

Kandal Provincial Court spokesman Ek Sun Reaksmey said that Loch Cham Roeun, 33, the former boss at the firm’s Ang Snuol district office, was detained on Thursday by police in Siem Reap province after returning from Thailand, where he allegedly fled in February.

Reaksmey said Cham Roeun was the subject of multiple complaints. He said the man was accused of swindling more than $160,000 but was unable to give more details about the complaint.

“He has been put in pre-trial detention and not yet tried,” Reaksmey said, adding that 10 people were expected to file further complaints against the accused today.

“He had failed to appear at the court after the second summons of investigating judge Y Sovann, so he was arrested.”

When contacted yesterday, a Prasac representative said the company could not comment because it was Sunday.

MOST VIEWED

  • Reports: Rainsy barred from Jakarta flight

    Sam Rainsy was on Wednesday refused entry to a flight from Malaysia to Indonesia, media reported late on Wednesday. The “acting president” of the Supreme Court-dissolved Cambodia National Rescue Party’s announced return to the Kingdom on Independence Day on Saturday failed to occur. Rainsy

  • Government studying EU’s preliminary report on EBA

    The Ministry of Foreign Affairs and International Cooperation on Wednesday said the government was studying the EU Commission’s preliminary report on the human rights situation in the Kingdom that could lead to a suspension of access to its “Everything But Arms” (EBA) agreement. The

  • Gov’t: Rainsy’s ‘coup plot’ a failure

    The government on Wednesday commended the Kingdom’s security forces for thwarting the attempted “coup plot” by former opposition leader Sam Rainsy through his announced return to Cambodia on November 9. The comments came as Rainsy, the “acting president” of the Supreme Court-dissolved Cambodia National Rescue

  • Rainsy blocked from boarding flight to Jakarta

    Sam Rainsy was on Wednesday refused entry to a flight from Malaysia to Indonesia, media reported late on Wednesday. The "acting president" of the Cambodia National Rescue Party's announced return to the Kingdom on Independence Day on Saturday failed to occur. Rainsy arrived in Kuala

  • Tour guides question animal release ban in Angkor moat

    The Khmer Angkor Tour Guide Association (Katga) called on the Apsara National Authority to reconsider its decision banning all animals from being released into the moat surrounding the Angkor Wat temple after the authority prohibited the action for the sake of visitors’ safety. An Apsara

  • Kingdom to import 200MW from Lao hydropower plant

    Cambodia plans to import 200MW of electricity from Laos’ Don Sahong hydropower plant early next year to curb power shortages this coming dry season, with the transmission line network scheduled for completion later this year, Ministry of Mines and Energy spokesman Victor Jona said. Jona,