A 33-year-old Taiwanese businessman was charged yesterday by Phnom Penh Municipal Court for cheating his Chinese business partner out of $500,000.
Ly Sothy, deputy chief of the Interior Ministry’s Penal Police Department, identified the suspect as Hong Michun, a Taiwanese national living in a rental apartment in Chamkar Mon district.
He said Mr Michun was charged with breach of trust and has been sent by the investigating judge to Prey Sar prison pending his trial.
The suspect was arrested in Phnom Penh on Tuesday afternoon in accordance with a court warrant for his arrest.
He was sued by Tan Huy Jing, 35, a Chinese businessman and the suspect’s business partner, added Mr Sothy.
He said that according to a police report, the suspect and plaintiff were friends. They had been working in the currency exchange business together for many years in Cambodia.
On January 18, the suspect asked to purchase $500,000 in US dollars in exchange for Chinese yuan.
He told the plaintiff to send the $500,000 to his bank account in Phnom Penh and promised he’d send the Chinese yuan to the plaintiff a day after the money had been transferred to his account.
“But after he received the money, he did not send the Chinese yuan to the plaintiff as promised,” Mr Sothy said. “He escaped and could not be contacted. He did not return the money to the plaintiff.”
The plaintiff later filed a criminal lawsuit against him to both the Interior Ministry’s Penal Police Department and the municipal court for intervention, added Mr Sothy.