Tong tin ‘thief’ released on bail

Khy Sovuthy / Khmer Times No Comments Share:

A woman charged with stealing more than $260,000 from members of a tong tin, or community savings group, was yesterday released on bail by Phnom Penh Municipal Court.
 
Chhay Kimhuoy, 47, is facing charges of breach of trust after a complaint made by the leader of the Chroy Changva district tong tin, Meng Sok Heing, 35.  
 
According to the complaint, Ms Kimhuoy had been responsible for looking after the money invested in the group since it began operating in July 2016. 
 
Court spokesman Ly Sophana said the woman admitted taking a lower amount of money than the plaintiff accused. 
 
He said the investigating judge decided to release her on bail while further investigations into the case are carried out.
 
Unregulated banking groups such as these, which claim high returns on investments to members of small communities, are widely considered to be de-facto pyramid schemes in which those at their heads make off with the majority, if not all, of their clients’ money.

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