The Kampot Provincial Court has frozen 106 bank and microfinance accounts – and seized over 2.28 million square metres (228 hectares) of land – in connection with a fraud case involving disgraced Oknha Chea Saron. 

Saron, who was stripped of the honorific Okhna, and eight of his associates were detained in April 2023 in connection with fraudulent real estate sales. 

The case allegedly involves more than 5,000 victims, with losses totalling approximately $40 million.

Many of the victims reportedly took loans from banks or microfinance institutions to purchase plots of land from Saron or invested in the company, with the promise of earning high interest returns.

In a November 19 press release, the provincial court announced that investigations are ongoing to identify more liquid and non-liquid assets which are linked to Saron and his associates. The court noted that they may serve as the basis for compensating the victims and addressing civil claims.

It was revealed that the properties which have been frozen include 2,012 plots of land, located in Kampot, Phnom Penh, Kandal and Kep provinces. 

The court is also reviewing the loans and debts associated with the victims, as well as the real estate company Chea Saron Realty Co., Ltd., at banks and microfinance institutions across the Kingdom.

“The Kampot Provincial Court will continue to hold Chea Saron and his associates in pre-trial detention. The court is committed to handling the case against Chea Saron Realty Co., Ltd., with the utmost diligence, ensuring accuracy, transparency and justice, in strict adherence to the law and proper procedures,” said a court spokesperson.