MFI Employee Jailed for Embezzling $300,000

A former employee of a microfinance institution (MFI) was Tuesday jailed on charges of embezzling some $300,000 from the company, a court official said.

Hor Lina, a deputy prosecutor at the Phnom Penh Municipal Court, identified the suspect only as a former employee of Collective Win, an MFI based in Phnom Penh.

“The judge charged him for cheating the company of $300,000 in cash, and he was sent to prison at about 2 p.m.,” Mr. Lina said, declining to say more about the case.

Maing Sokluch, chief of the municipal military police’s serious crimes bureau, confirmed that the man was arrested a few days ago, but also declined to provide details.

Local media named the suspected embezzler as Buth Chanvireak, a former credit manager at Collective Win.

According to the reports, Mr. Chanvireak created fake clients and forged documents to siphon off loans from the MFI over the course of a year and was arrested in response to a court complaint filed by the firm.

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