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Company executive charged over missing funds

Buth Reaksmey Kongkea / Khmer Times No Comments Share:
The accused. Supplied

Phnom Penh Municipal Court yesterday charged an executive for allegedly embezzling more than $30,000 from an egg wholesale company and gambling all the money away.

Colonel Hour Mengvang, Sen Sok district police chief, identified the accused as Pheang Sopheap, 37, the chief marketing executive of Mediveth Co Ltd who lives in Prek Pnov district’s Kakab commune.

He said the accused was charged with breach of trust and faces up to three years in jail if convicted.

Mr Sopheap was arrested on Monday, following a complaint from Prak Ingvong Thearith, 35, a representative of the company, and is now in prison pending trial.

Captain Keo Vuth, a district penal police officer, said that according to police investigations, Mr Sopheap was employed by Mediveth Co as its chief marketing executive in 2014.

He said Mr Sopheap was authorised to distribute eggs imported from Thailand to the company’s agents in cities and provinces and collect payments on its behalf.

The accused was supposed to hand over money he collected to the company’s owner at the end of each month.

Cap Vuth noted that according to the company’s complaint, from February 1 to February 28 this year, Mr Sopheap collected $31,000 from the company’s clients.

He said that the accused however did not give the money to the owner and kept it for his personal use without authorization.

Cap Vuth said that Mr Sopheap used the money to gamble in casinos and lost it all.

He said that when the owner asked him about the missing funds, the accused promised to pay it all back soon.

“But later when the owner of the company asked him for the money, he did not have it,” Cap Vuth said. “To reclaim the losses, the representative from the company later sued him in court,” Cap Vuth said.

He noted that Mr Sopheap was arrested on Monday in accordance with a court warrant issued against him.

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