{
    "success": true,
    "data": {
        "id": 1722403,
        "msgid": "rulers-cousin-implicated-in-scam-company-holds-30-stake-1778181205",
        "date": "2026-05-06 20:40:00",
        "title": "Ruler's Cousin Implicated in Scam Company, Holds 30% Stake",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Business",
        "summary": "A cousin of Cambodian Prime Minister Hun Manet has admitted to owning a 30% stake in Huione Pay, a digital payment platform sanctioned by Washington for its alleged involvement in cyber fraud and money laundering linked to transnational criminal groups. The entrepreneur, Hun To, claims he does not manage operations or receive any profits from the company, which has been at the centre of public protests in Cambodia over inaccessible funds. The scandal highlights ongoing issues with illicit financial activities in Southeast Asia's digital economy, prompting regulatory actions including the revocation of the platform's business licence by Cambodia's central bank.",
        "content": "<p>Jakarta, CNBC Indonesia - A cousin of Cambodian Prime Minister Hun\nManet is embroiled in a scam company. On Wednesday (6\/5\/2026), he\nadmitted to holding a 30% stake in a digital payment platform connected\nto cyber fraud and money laundering, which has already been sanctioned\nby Washington.<\/p>\n<p>The company is Huione Group, which operates several entities offering\ne-commerce, payment, and cryptocurrency exchange services, including\nHuione Pay. The firm has been reported to frequently launder funds for\ntransnational criminal groups conducting scams from Southeast Asia.<\/p>\n<p>\u201cI wish to inform the public that I do indeed hold a 30% stake in\nHUIONE PAY PLC,\u201d said the cousin of the Cambodian Prime Minister,\nbusinessman Hun To, in a statement quoted by AFP.<\/p>\n<p>Nevertheless, Hun To stated that he does not manage the operational\nbusiness of Huione Pay. He also claimed to have never received any\nprofits, dividends, or assets from the company.<\/p>\n<p>\u201cI have not received any share of the remaining funds after\nliquidation,\u201d said Hun To.<\/p>\n<p>Meanwhile, Cambodia\u2019s Ministry of Commerce stated that Hun To is\nregistered as a director of Huione Pay. The company itself has a net\ncash balance of more than US$1.1 million (Rp17.6 billion) after all\ncreditors have been paid, with the remaining funds distributed to\n\u201cshareholders responsible for the company\u2019s past operations\u201d.<\/p>\n<p>Huione Pay is linked to the former chairman of Huione, Li Xiong, who\nwas extradited to China last month. Beijing stated that he is a central\nfigure in a major transnational gambling and scam syndicate and is\nsuspected of various crimes.<\/p>\n<p>In Cambodia, Huione Pay has shocked the nation and sparked citizen\nprotests. Demonstrators demanded the release of their accounts on the\nHuione platform, H-Pay, which was previously known as Huione Pay, which\nthey say has been inaccessible since December.<\/p>\n<p>Cambodia\u2019s National Bank stated that the business licence of the\nHuione platform has been revoked, and creditors of Huione Pay must file\nlawsuits in court. Meanwhile, creditors of the newer entity, H-Pay, can\nsubmit claims to the liquidator.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/rulers-cousin-implicated-in-scam-company-holds-30-stake-1778181205",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}