Cousin of Cambodian PM Tied to Huione Pay Amid Scandal

Post by : Shakul

The political landscape in Phnom Penh faced new turbulence as Hun To, a cousin of Cambodian Prime Minister Hun Manet, revealed his 30% ownership in Huione Pay—a digital payments firm implicated in allegations of cybercrime and money laundering. This revelation has raised significant public concern, especially since the U.S. previously sanctioned the company for its alleged connections to transnational scam networks operating within Southeast Asia.

Hun To made the admission in a statement issued on Wednesday, confirming his 30% stake in HUIONE PAY PLC. However, he vehemently denied any involvement in the company's operations or receiving any financial benefits during his tenure as a shareholder.

The controversy over Huione Pay intensified after U.S. authorities accused the Huione Group last year of laundering funds for criminal organizations involved in online fraud across Southeast Asia. Investigators allege that Huione's extensive network incorporated e-commerce and cryptocurrency sectors, facilitating the movement and concealment of funds related to global fraud.

Documentation from the liquidation process indicated that former Huione chairman Li Xiong held 62% of the company, while Hun To maintained 30%. Legal papers from Reachs and Partners confirmed this ownership layout. Official statements noted that Huione Pay's liquidation was completed in October 2025 due to mounting regulatory challenges and international scrutiny.

Moreover, Chinese authorities have linked Li Xiong to a high-profile transnational gambling syndicate. He is accused of orchestrating illegal online gambling and fraud across various countries, leading to his extradition to China on April 1, where he faces investigations for multiple alleged offenses—heightening the focus on the financial dealings of Huione.

Contrasting public sentiment surrounds Hun To's assertion of non-involvement in Huione Pay's operational decision-making. In his statement, he insisted he did not engage in financial dealings or business decisions for the firm and did not accrue personal profits during his period of ownership, eliciting mixed reactions from both the public and political analysts.

This issue is further complicated by numerous user complaints regarding frozen accounts linked to the Huione platform, formerly known as H-Pay. Many have protested over their inability to access funds, claiming that their accounts have been inaccessible since December.

The National Bank of Cambodia confirmed the revocation of licenses tied to Huione’s platforms after investigations revealed significant regulatory compliance concerns. This situation raises alarming questions about the unchecked expansion of digital financial services and their potential connections to organized cybercrime in the region.

The unfolding narrative surrounding Huione Pay has underscored the escalating menace of cyber scams originating from Southeast Asia. Governments in the region are under increasing pressure to enhance financial supervision, bolster cybercrime enforcement, and better protect consumers from online fraud. Experts believe that this case might trigger additional international scrutiny on digital payment entities linked to risky financial activities within Cambodia and its neighboring states.

#Thailand News #Digital Awareness #Cambodia #Payments