Phnom Penh (FN), May 30 – An estimate of 8,000 people from 11 provinces have been swindled by three organizations, for a whopping $60 million.

The case was opened several months ago after the Ministry of Interior received multiple complaints.

The government organized an inter-ministerial press conference regarding legal action against fraudulent institutions like the Southeast Asian Foundation (AIF), the Association of Investment Consultants (ICA), EBC, and other relevant institutions and individuals for committing securities fraud.

The conference was held at the Ministry of Interior on Tuesday morning.

“This is not the first time Cambodia has dealt with these types of companies,” said Nguon Sokha, Secretary of Ministry of Economy and Finance.

The Ministry of Justice’s representative confirmed that depth of the case which as  affected thousands of Cambodians and promised that the ministry will take action accordingly.
=FRESH NEWS