US$7mil laundered cash uncovered in Phnom Penh

The Star

27-04-2025

PHNOM PENH: The Phnom Penh Military Police have broken open a major fraud operation, with at least one victim losing as much as US$7 million.
The victim was misled into believing that genuine US dollars could be used to 'clean' US$28 million in 'stained' dollars, which would then be shared with the gullible victim.
Rath Sreang, commander of the capital military police, announced on April 25 that the scheme had been dismantled almost a week ago, on April 19.
The victim fell afoul of five scammers, who claimed they had US$28 million in black-stained US dollars that could not be spent unless cleaned with genuine dollars and a special powder. The powder was supposedly be mixed with the genuine dollars, therefore making it usable, albeit raising questions.
Sreang explained that the scammers promised the victim a return of three to five times their initial investment. Initially, the victim provided US$2,000 in genuine dollars, which was mixed with the scammers' powder and US$8,000 in stained money in a machine. Before the process, the scammers gave the victim a pill, claiming it would protect him from chemical poisoning from the powder.
To gain his trust, the scammers took the pill themselves first to show it was safe. Shortly after, the machine produced US$10,000 in what appeared to be genuine, spendable dollars. The scammers then handed over the 'cleaned' money to the victim, as a deliberate and predictable tactic to build confidence.
'The victim, now trusting the scammers, handed over a total of US$7 million, believing it would clean US$28 million in stained dollars. The scammers promised to give the victim US$25 million of clean money. However, each time the money was retrieved from the machine, the scammers wrapped it in yellow tape and instructed the victim not to open it immediately, claiming it needed to sit for months to become genuine. Otherwise, it would not be usable,' Sreang explained.
It was only a month later that the victim grew suspicious and opened the wrapped money, discovering it was counterfeit dollars and blank paper, and realising he had been scammed, according to the commander.
'The victim lost US$7 million. The Phnom Penh Gendarmerie detained two of the scammers and is preparing a case that will be sent to the court for legal prosecution. The remaining accomplices are still being investigated,' he added, without sharing the identity of the victims.
He urged the public to think critically and exercise extreme caution, warning against greed clouding judgment.
'On earth, no benefit comes to us on its own. If someone tells you that you can easily make money without effort, ask yourself: why aren't they quietly doing it themselves? Why are they inviting you to share or reduce their profits? What are you to them? Why don't they share these benefits with their spouse, children, relatives, close friends, or compatriots? This is the pattern of deception,' he said. - The Phnom Penh Post/ANN