Cambodian PM’s cousin admits stake in scam-linked firm

A cousin of Cambodian Prime Minister Hun Manet has acknowledged owning a stake in a digital payments company sanctioned by Washington for its alleged role in cyber scams and money laundering.

Businessman Hun To, part of the family that has dominated Cambodian politics for four decades, said on Wednesday he had held 30 per cent of shares in Huione Pay. He insisted he never managed operations or received profits, rejecting accusations that he was “the boss” of the firm.

Huione Group, the parent company, was designated last year by the US Treasury’s Financial Crimes Enforcement Network as a “primary money-laundering concern”. American officials said the conglomerate processed at least $4 billion in illicit proceeds between 2021 and 2025, including funds from online scams run out of Southeast Asia.

The company’s former chairman, Li Xiong, who held a majority stake, was extradited to China last month to face charges linked to transnational gambling and fraud. Huione Pay was liquidated in October, with remaining funds distributed to shareholders. Hun To said he received nothing.

Observers doubt he will face consequences at home. Organised crime researcher Lindsey Kennedy noted Hun To’s name has appeared repeatedly in connection with companies exposed to scams, trafficking and money laundering. “I doubt there is any chance of him ever facing criminal investigation in Cambodia itself, especially while his uncle Hun Sen is still alive,” she said.

The case highlights Cambodia’s role as a hub for the global scam industry, where criminal groups operate from casinos and fortified compounds, often using trafficked workers.

Authorities say they have deported more than 13,000 foreigners involved in online scams since early last year, under pressure from China and the United States.

Yet critics argue enforcement has targeted lower-level operators while shielding political elites. Kennedy said “the highest echelons of the government facilitated, protected and profited from the scam compounds”, but few bosses and no senior officials have been detained.

With international scrutiny mounting, the scandal underscores the challenge Cambodia faces in tackling organised crime while powerful figures remain entangled in its networks.

-2026-05-07