Investment tycoon Hy Kimhong has been arrested on suspicion of fraud, money laundering and obstruction of the police during a dramatic operation on Monday that saw gunfire break out.
Police spokesperson, San Sokseyha, confirmed that on Tuesday afternoon, police arrested Kimhong alongside 13 of his bodyguards during the operation in Phnom Penh’s Prek Pnov district.
The unraveling of the arrests was streamed live on social media by several local media outlets. Prior to the arrest of Kimhong and 13 of his bodyguards, a crowd of investors had gathered outside his office to demand back their money.
Numerous families have previously lodged complaints alleging the Oknha of fraud in a real estate project.
During the confrontation, Kimhong said he acknowledged the hardships faced by people and proposed to return $150 of the complainants’ investment. This was met with disapproval and rejected by the crowd.
As anger mounted, police arrived to apprehend Kimhong, leading to a confrontation between officers and his bodyguards. According to media reports, the altercation escalated when the bodyguards reportedly fired two shots at police and engaged in violent behavior.
The police spokesperson, Sokseyha, said that the suspects have been sent to court to face charges.
“In the afternoon, police sent the 14 who were arrested to court on charges of fraud, obstruction of police law enforcement and money laundering,” Sokseyha told Kiripost.
Representatives of Hy were not available to comment on this story.