Cambodian Journalists Alliance Association

National

Residents hold banners demanding tycoon Leng Channa of Brilliant City refund them on February 12, 2024, as they fall into debt with banks. (Supplied)

Investment Fraud And Online Scams Lead To Financial Losses For Cambodian Victims

It started off small for Noun Noeut, a 60-year old father from Battambang. He invested $5,000 in the land investment company Brilliant City World. But he said his nephew, an employee of the company, urged him to invest even more. With the company promising Noeut interest on his investment every month, he started collecting money from his children and taking out bank loans, ultimately handing over $55,000.