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

  • Ethnic group ‘disappointed’ to be denied French visas to attend court

    Eleven people at the centre of a case involving seven indigenous Bunong villages in Mondulkiri province pursuing legal action in France have expressed disappointment after the French embassy in Phnom Penh denied their visa applications to attend court. A press release said the 11 included a

  • Cambodia nabs 12th place in best retirement destinations

    Cambodia is an expatriate hotspot for those dreaming of living a more luxurious lifestyle at an affordable cost, according to International Living’s Annual Global Retirement Index 2019. For the fourth year in a row, Cambodia took the top spot in the Cost of Living category.

  • EU starts EBA withdrawal

    The EU on Monday announced that it has begun the 18-month process of withdrawing the Kingdom’s access to its preferential Everything But Arms (EBA) agreement over “a deterioration of democracy [and] respect for human rights”. However, the Garment Manufacturers Association of Cambodia (GMAC) said

  • PM: War result of foreign meddling

    Prime Minister Hun Sen said on Sunday that Cambodia’s recent history of conflict was caused by foreign interference. “The wars that happened were caused by provocation, incitement, support, smearing and interference from foreign powers, and the group of ignorant people who pushed Cambodia to