A real estate tycoon was yesterday questioned at Phnom Penh Municipal Court over issuing an empty cheque worth more than $1 million to his counterpart in a $3 million development project in Phnom Penh.
Chhun Socheath, a penal police officer, identified the suspect as tycoon Chuob Chan, who was arrested on Tuesday night.
“He was arrested in accordance with a court warrant,” he said. “He is accused of issuing a bad cheque and is being questioned by the prosecutor.”
According to a police report, Mr Chan jointly invested in a residential project worth $3 million with tycoon Kim Kao in early 2017.
When the two parties had a falling out over the project in July, Mr Chan issued a cheque worth more than $1 million to Mr Kao, who had demanded his investment back.
After the cheque bounced, Mr Kao filed a complaint to the court in August.
Mr Chan was then summoned to the court twice, failing to appear both times and leading to his arrest on Tuesday evening.
Sin Vireak, the deputy prosecutor in charge of the case, could not be reached for comment.