15-7-2024 (PHNOM PENH) In a powerful display of collective outrage, over 230 individuals, representing a staggering 1,094 families, took to the streets of Phnom Penh yesterday, their voices echoing a unified call for justice. The protesters, victims of an alleged $100 million land fraud that has shaken the foundations of trust for thousands of Cambodian families, marched with unwavering determination to the doorstep of Taing Sin Hong Kaw Office in Borey Piphop Thmey 2.
At precisely 10:15 am on July 14, 2024, the throng of protesters converged on the office, located at #101, Street 02, Thmey Village, Sangkat Dangkor, Khan Dangkor, Phnom Penh. Their mission was clear: to defend their rights and file a formal complaint with the Phnom Penh Municipal Court, according to reports from local law enforcement officials in Dangkor district.
At the center of this scandal lies Hy Kimhong, the Chairman of the Board of Piphup Deimeas Investment Co., Ltd., a figure accused of complicity in the staggering $100 million land fraud that has upended the lives of thousands of Cambodian families. Hy Kimhong’s alleged involvement has not gone unnoticed by the authorities, as Phnom Penh Municipal Court Deputy Prosecutor Seng Heang has leveled charges of “aggravated fraud” against him, invoking Article 380 of the nation’s Penal Code.
The ripple effects of this alleged fraud have reverberated across Cambodia, with Kampot Provincial Police Chief Major General Mao Chanmathurith revealing that as of August 9, 2023, a staggering 1,105 families in the province had filed complaints against the company. The victims, many of whom had borrowed money from banks to invest in the company’s land project, were lured by promises of monthly returns on their investments – promises that were never fulfilled, leaving them mired in debt and financial ruin.
The gravity of the situation has not escaped the attention of Cambodia’s highest authority. In a powerful statement, His Majesty King Norodom Sihamoni, the revered monarch of Cambodia, ordered the termination of the prestigious “Oknha” title bestowed upon Hy Kimhong, a move that underscores the seriousness of the allegations and the nation’s commitment to upholding justice.
