A Lao businessman was tried by Phnom Penh Municipal Court yesterday for cheating $70,000 from his two Cambodian friends who work in the pavement industry.
Judge Pich Vicheathor identified the accused as Phetsamone Sirioudom, 62, a Lao national and the director of the Tep Sambath Construction Company.
Judge Vicheathor noted that the accused was charged with “fraud” after his arrest in April.
Chea Pai, 54, a road construction businessman, said that on January 1, 2016, Mr Sirioudom borrowed $70,000 from him and his elder brother Chhuon Thavarin, 56, for his personal use.
Mr Sirioudom promised he would return the money over a period of ten months, at a monthly interest rate of 15 percent.
But Mr Sirioudom failed to repay the money.
“To find justice in this case, I demand $500,000 in damages and compensation from the accused,” said Mr Pai.
Mr Sirioudom confessed he had borrowed and failed to repay the money during the trial yesterday.
He asked the court to reduce his sentence and release him from prison so he could earn money to pay the plaintiff back. “The reason why I did not pay him was because I did not have the money yet,” he said. “Then I got arrested.
I ask the court to release me from prison so that I can earn the money to pay them back.”
The verdict is due on December 26.