A Malaysian national was charged with fraud by Phnom Penh Municipal Court on Saturday.
An arrest warrant was issued against Woo Kee Mun, 46, by Phnom Penh Municipal Court prosecutor Seu Vanny on March 15, and he was arrested on Friday.
The accused, an investor living in Phnom Penh’s Sen Sok district, allegedly stole $2 million from 29 Japanese investors involved in a property development project.
According to penal police officer Ly Sothy, the accused was sued by the 29 Japanese investors over allegations of embezzling the money that was earmarked for the construction of an apartment building in 2016.“[Mr Woo] lobbied the plaintiffs to invest in a joint-venture project to build and sell apartments,” said Mr Sothy. “But after receiving the investment, [Mr Woo] kept the money for his own personal use. He did not honour the contract.”
According to the court, investors grew suspicious and asked for the money to be returned, however Mr Woo could not pay them back.
The Japanese investors are suing the defendant for money lost and damages caused by the breach of contract. The lawsuit was filed in Phnom Penh Municipal Court earlier this month.
The accused, who faces six month to two years in jail if convicted of fraud, has been jailed pending his trial.