Ruler's Cousin Implicated in Scam Company, Holds 30% Stake

Jakarta, CNBC Indonesia - A cousin of Cambodian Prime Minister Hun Manet is embroiled in a scam company. On Wednesday (6/5/2026), he admitted to holding a 30% stake in a digital payment platform connected to cyber fraud and money laundering, which has already been sanctioned by Washington.

The company is Huione Group, which operates several entities offering e-commerce, payment, and cryptocurrency exchange services, including Huione Pay. The firm has been reported to frequently launder funds for transnational criminal groups conducting scams from Southeast Asia.

“I wish to inform the public that I do indeed hold a 30% stake in HUIONE PAY PLC,” said the cousin of the Cambodian Prime Minister, businessman Hun To, in a statement quoted by AFP.

Nevertheless, Hun To stated that he does not manage the operational business of Huione Pay. He also claimed to have never received any profits, dividends, or assets from the company.

“I have not received any share of the remaining funds after liquidation,” said Hun To.

Meanwhile, Cambodia’s Ministry of Commerce stated that Hun To is registered as a director of Huione Pay. The company itself has a net cash balance of more than US$1.1 million (Rp17.6 billion) after all creditors have been paid, with the remaining funds distributed to “shareholders responsible for the company’s past operations”.

Huione Pay is linked to the former chairman of Huione, Li Xiong, who was extradited to China last month. Beijing stated that he is a central figure in a major transnational gambling and scam syndicate and is suspected of various crimes.

In Cambodia, Huione Pay has shocked the nation and sparked citizen protests. Demonstrators demanded the release of their accounts on the Huione platform, H-Pay, which was previously known as Huione Pay, which they say has been inaccessible since December.

Cambodia’s National Bank stated that the business licence of the Huione platform has been revoked, and creditors of Huione Pay must file lawsuits in court. Meanwhile, creditors of the newer entity, H-Pay, can submit claims to the liquidator.