A 42-year-old businessman was yesterday tried by the municipal court for issuing a bad cheque worth $50,000 to another businessman to repay a debt.
Judge Ros Piseth of Phnom Penh Municipal Court identified the accused as Chea You, 42, a clothes vendor living in Phnom Penh’s Chamkarmon district.
Judge Piseth said Mr You was arrested on May 16, 2016, but was later released on bail.
He was sued by Sok Sovann, 47, a property businessman.
Mr Sovann said yesterday that in 2014 Mr You borrowed a total of $150,000 from him in order to improve his retail clothes businesses.
Mr Sovann said he made a contract with Mr You for him to repay the loan, on a monthly interest rate of three percent, by March 2015.
Mr You lapsed on his repayments and later issued four separate cheques worth $50,000, which bounced.
“When I took the cheque to the bank, there was no money in his account to pay me,” said Mr Sovann.
“And when I contacted him about the payment, he always asked for more time.”
At yesterday’s trial, Mr You admitted his mistake, but claimed he only borrowed $90,000 from Mr Sovann.
“He knew that I did not have money to pay him but he forced me to issue the cheque,” he told the court. “He then sued me when the cheque bounced.”
A verdict is due on January 3.