$3.5 Million Was ‘To Invest in Real Estate’ Say Chinese

PHNOM PENH: The Municipal court on Sunday charged three Chinese nationals with money laundering after the men were allegedly caught carrying more than $3.5 million without any good reason.

The three men were arrested on Tuesday at Phnom Penh International Airport after they arrived on a flight from Hong Kong. $3.52 million in $100 bank notes was found in their bags.

Ly Sophana, a spokesman at Phnom Penh Municipal Court, said that the three men were charged under Anti-Money Laundering and Combatting Financing of Terrorism legislation.

If convicted, the men could face 10 to 20 years in prison.

The three men told police that some of the money was won gambling in Macau, and some was borrowed from relatives. They said the money was brought to Cambodia to invest in real estate.

The cash was confiscated.

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