Bank Employees Confess to $1M Fraud Scheme

Six employees of Acleda Bank’s Battambang city branch confessed on Thursday to their roles in defrauding the bank of over $1 million, an Interior Ministry official said.

Pol Ratana, deputy director of the ministry’s penal department and the lead investigator on the case, said the suspects had confessed under questioning on Thursday, but declined to elaborate.

The men were accused of taking out a series of 12 loans worth between $18,000 and $100,000, and then forging paperwork showing repayments that never occurred.

The fraud eventually caught the attention of the bank’s headquarters, which conducted an audit before reporting the case to the Phnom Penh Municipal Court.

Authorities said they were also investigating the recipients of the over $1 million in unpaid loans.

Municipal court spokesman Ly Sophana said the suspects were returned to the department’s Phnom Penh headquarters on Thursday evening and would appear for more questioning at court today.

The court is “checking the case and evidence and questioning the suspects before making a decision” on pressing charges, he said.

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