THE ‘RESPECTABLE’ FACES THAT HELP CAMBODIA’S ELITE LOOT THE COUNTRY

On 6 June, Radio Free Asia carried a report saying that an investigative series by Radio Free Asia examining the overseas real estate holdings of Cambodia’s ruling elite has turned up properties worth $30 million. Upcoming stories will reveal further properties, worth in excess of $100 million, it says.  It says that, with evidence, a constant for the last 30 years has been the apparent willingness of outwardly respectable banks, realtors and consultants to help politically connected Cambodians expatriate their country’s riches. It says that, in 2016 alone, at least $1.8 billion was laundered out of Cambodia, according to an analysis by US think tank Global Financial Integrity.

https://www.rfa.org/english/news/cambodia/corruption-elite-06052020171140.html

 

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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