Cambodian PM’s cousin says owned 30% of scam-linked firm

Cambodian PM’s cousin says owned 30% of scam-linked firm

Hun To admitted he had owned a 30% stake in Huione Pay Plc, whose liquidation was completed in October 2025, leaving hundreds of creditors in a bind.

Creditors of Huione Pay Plc and H-Pay Service Plc protest outside the National Bank of Cambodia (NBC) headquarters in Phnom Penh, Cambodia, 27 April 2026. The NBC has advised creditors of Huione Pay Plc to seek resolution through the courts, stating the firm has completed liquidation and is no longer under its jurisdiction. Meanwhile, creditors of H-Pay Service Plc have been given 30 days to submit supporting documents to a court-appointed liquidator following the revocation of its licence. The announcement comes after more than 100 creditors protested outside NBC headquarters in Phnom Penh on 27 April, with authorities urging all parties to follow legal procedures to ensure a fair and orderly settlement. EPA/KITH SEREY
File image of creditors of Huione Pay Plc and H-Pay Service Plc protesting outside the National Bank of Cambodia (NBC) headquarters in Phnom Penh. (EPA Images pic)
PHNOM PENH:
A cousin of Cambodian Prime Minister Hun Manet said Wednesday he owned a 30 percent stake in a digital payments platform linked to cyberscams and money laundering and sanctioned by the US.

“I would like to inform the public that I have indeed owned 30 percent of shares in HUIONE PAY PLC,” Hun To said in a statement.

The US government last year accused Huione Group, which owned several companies offering e-commerce, payment and cryptocurrency exchange services, including Huione Pay, of laundering funds for transnational criminal groups perpetrating scams from Southeast Asia.

Huione’s former chairman, Li Xiong, was extradited to China on April 1.

Chinese authorities say he was central to a major transnational gambling and fraud syndicate and is suspected of multiple crimes.

Li owned 62 percent of Huione Pay’s shares, while Hun To owned 30 percent, according to a report by liquidator Reachs & Partners.

Huione Pay’s liquidation was completed in October 2025, it said.

Hun To said he did not manage the business operations of Huione Pay and “never received any profits, dividends or assets from that company”.

Since last month, protesters have demanded the unfreezing of their accounts with the Huione platform H-Pay, previously Huione Pay, which they said have been inaccessible since December.

The National Bank of Cambodia has said the Huione platforms’ business licences have been revoked.

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