Cambodian PM’s cousin owned 30% of scam-linked Huione Pay

The cousin of Cambodia’s Prime Minister (PM) Hun Manet has revealed that he once owned a significant stake in a payment firm linked to alleged $4 billion crypto laundering enterprise Huione Group.

According to local media, a lawyer acting on behalf of Hun To released a statement today confirming that he previously held a 30% stake in Huione Pay.

The firm, which acts as Huione Group’s banking arm, was sanctioned last year by the US and UK along with another alleged South Asian crypto scam conglomerate Prince Group.

Huione Pay’s banking license was also revoked last year due to noncompliance with regulators.

Hun claimed that he had held no managerial authority within Huione Pay and that he didn’t “contribute the required capital in cash” corresponding with his 30% stake.

Additionally, he says he’s never received any profits, dividends, or assets from Huione Pay.

The businessman stressed, “I have never received any invitation for any meeting, general assembly of shareholders. I have never been appointed nor have authorised any proxy or nominee to act on my behalf as a shareholder in the company.”

Hun To is a member of Cambodia’s political class

Hun’s political family connections extend beyond Cambodia’s current PM; he’s also the nephew of the country’s former PM Hun Sen.

Reuters reported in 2024 that Hun was one of three directors working for Huione Pay. Its coverage also detailed the payments firm receiving over $150,000 from the North Korean hacking group Lazarus.

It noted that it had no evidence that Hun was aware of the transactions, and a Huione Pay spokesperson told Reuters that his role in the firm doesn’t include oversight of its day-to-day operations.

Hun has also been linked to a heroin trafficking and money laundering group targeting Australia. He denies any involvement.

He launched defamation proceedings against The Australian over an article it published in 2022 alleging his involvement in human trafficking, cyberbullying, and drug trafficking rings.

Hun won the proceedings, and The Australian deleted the article, claiming it “did not intend to make any such allegations against Hun and accepts his denials of such conduct.”

Cambodia’s current PM has overseen a dramatic crackdown on crypto scam centres over the past three years.

In that time, Cambodia claimed to have deported 48,000 workers, many of which have been trafficked against their will, back to their country of origin.

Last month, the country reportedly deported 600 Thai nationals linked to crypto scam centres. The government also claimed that over 240,000 people alleged to have been involved in the scam operations “voluntarily departed” the country.