Tycoon Chea Saron and Associates Charged and Detained for $ 40 Million Fraud


Buth Reaksmey Kongkea 

The Kampot provincial court on April 27, 2023 charged and placed Tycoon Chea Saron and his eight associates in prison pending pre-trial in connection with allegedly cheating more than $40 million from more than 5,000 families through an investment scheme with Saron’s company, with the promise of higher monthly returns committed in 2018 and 2023.  



Kampot provincial court’s Spokesman Mann Boreth said yesterday that the nine accused were  named as Oknha Chea Saron, the owner of Chea Saron Realty Co, Ltd and his associates, Eam Samrorb,  Yeth Vanna, Rom Vichheka; Chea Sary, Chea Sarith,  Vorn Kean, Luch Reap, and Pheang Hour.  

They were all charged with “Fraud with Aggravating Circumstances” under Articles 377 and 380 of the Criminal Code, Boreth added. 

If convicted, they face a jail term between two and five years each. 



Major General Mao Chanmathurith, the Chief of Kampot Provincial Police, said they were arrested on April 22, 2022 by Kampot provincial police.

They were arrested by the order of the provincial court prosecutor’s warrant and based on the victims’ complaints, Maj Gen Chanmathurith added.  

The nine accused could not be contacted for comment. 



However, during a public forum organised by the Governor of Kampot province, Mao Thonin on Saturday before the nine accused were arrested, Oknha Saron, who was present, accepted that his company had received money from the victims.                                             

This was solely his fault because he was the owner of the company and it was not related to his eight associates and he did not have any intention to cheat the victims, Saron said.

 “I would like to accept all my mistakes and I am very regretful of them,” Saron added. 

“I promised that I would pay back the money to all the victims,” he said. 

However, he could not pay the victims’ monthly interest because his company did not earn any income from July 2022 until today, Saron said. 



Saron stated that his company had used its reserved capital to purchase land in Phnom Penh for a major residential development, however, they have been unable to sell the land plots and therefore unable to finance the return of investment to the victims, he added.


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