Logo of Phnom Penh Post newspaper Phnom Penh Post - Real estate purchasers demand land refunds

Real estate purchasers demand land refunds

Content image - Phnom Penh Post
Than Preah In company director Hang Prinya, also known as Chhy Chakrya has asked clients who claim they were cheated out of money in a real estate scheme to give him three months to cope with their demands. Facebook

Real estate purchasers demand land refunds

Than Preah In company director Hang Prinya has asked clients who claim they were cheated out of money in a real estate scheme to give him three months to cope with their demands. But some victims have declined to do so.

Prinya, also known as Chhy Chakrya, made the request after clients created a joint Facebook page posting their demands.

They insisted Prinya come forward to solve the matter and compensate those who bought plantation land from the company, which appeared to close down after running out of money.

Prinya told The Post on Tuesday that his intention was not to evade responsibility for compensating clients who felt wronged.

He said opportunists had tried to smear his name, which caused his company to run into financial difficulty.

“A scandal broke last year, saying I sold land when I had none. The scandal prompted clients to rush to withdraw their money. Last year, the company had money and refunded them.

“As you know, if a company only withdraws money and has no income, it will collapse. We ran out of money completely in December last year because [we] had been compensating clients,” he said.

Prinya requested three months, from April 20 to July 20 of this year, to give him the possibility of re-opening the firm.

He maintained that when the company could operate again, it would be able to give the clients everything they expected.

“I will announce the re-opening of the office in Phnom Penh in June. I’m asking them to give me time to work out the matter. We have good members continuing our work in Kampot province.

“We have good clients believing in and supporting [us], and we are continuing to move forward. All investment partners ... please work together in the interests of clients and the reputation of the company,” he said.

Ngor Liheang, an alleged victim who filed a complaint with the Siem Reap Provincial Court in March, told The Post on Tuesday that he was still waiting for a solution.

He had no faith in Prinya’s statements because he said Prinya had employed the same tactics in the past.

“He made this request in the past and we waited a year for land titles and compensation. It is not only plantation land buyers, but also investors.

He asks the victims to give him three months and then he postpones another three months for different reasons. If he did as he promised, we would not have protested,” Liheang said.

Another victim who gave his name as Rithy said he spent more than $40,000 buying land in Siem Reap.

He told The Post on Tuesday that he had previously believed in Prinya and had given him several chances to honour his agreement, but the matter remains unsolved.

“I already went to investigate in Srei Snam district along with the authorities, and they said he has no land here. It was said he deposited money to buy land in the area, but he never paid in full and the landowner took it back.

“Now that I know this, I no longer believe in him. I only ask for a refund on the land I bought,” Rithy said.

He added that some victims are collecting documents to file a joint complaint with local authorities. If the case remains unsolved, they will file another complaint with the provincial court.

Than Preah In, which translates to “King God Land” in English, opened last year with branches in Siem Reap, Mondulkiri, Pursat and Kampot provinces.

MOST VIEWED

  • ‘Education’ a priority traffic-law penalty

    A top National Police official on June 21 neither rejected nor confirmed the authenticity of a leaked audio message, which has gone viral on social media, on a waiver of fines for a number of road traffic-related offences. General Him Yan, deputy National Police chief in

  • Volunteer scheme to foster ‘virtuous’ humanitarian spirit

    A senior education official said volunteer work contributes to solidarity and promotes a virtuous humanitarian spirit among the youth and communities. Serei Chumneas, undersecretary of state at the Ministry of Education, Youth and Sport, made the comment during the opening of a training programme called “

  • Chinese firms unveil preliminary results on metro, monorail for capital

    Minister of Public Works and Transport Sun Chanthol and representatives from China Road and Bridge Corp (CRBC) and its parent company, the state-owned China Communications Construction Co Ltd (CCCC), met on June 24 for talks on results of the firms’ preliminary study on a potential metro

  • ACLEDA, WU to enable global money transfers

    Cambodia's largest commercial bank by total assets ACLEDA Bank Plc and global money transfer firm Western Union (WU) have partnered to offer customers cross-border money transfers to 200 countries via “ACLEDA mobile” app. In Channy, president and group managing director of ACLEDA, said the June 22 agreement

  • Aeon, Micromax partner again for third mall

    AEON Mall (Cambodia) Co Ltd and a locally-owned Micromax Co Ltd have entered into a partnership agreement to develop fibre optic infrastructure for $200 million Aeon Mall 3, which is expected to be opened in 2023. The agreement was signed on June 20 between Masayuki Tsuboya, managing director of

  • Walmart plans to diversify stock of Cambodia goods

    Walmart Inc, the world’s biggest retailer, on June 22 reiterated recent plans to scale up and greatly diversify its purchases of Cambodian products, according to the labour ministry. This came during a virtual working meeting between Minister of Labour and Vocational Training Ith Samheng and