Opposition leader Sam Rainsy plans to ask international banks to confiscate money deposited in overseas banks by corrupt Cambodian officials.
In an interview with RFA in the morning of 16 Feb, Sam Rainsy charged that money deposited in overseas banks by a group of high-raking Cambodian government officials originated from the sale of Cambodian natural resources, such as logging, sale of islands and offshore concessions, etc… Therefore the money deposited should be confiscated and returned to the Cambodian people, the legitimate owner of the money.
Sam Rainsy said: “Those who hold position in the government must declare all their asset, and they also should provide the origin of their great fortune. If they come from legal business deals, then it is fine, but if they cannot provide the origin of the money, then it means that they got it from corruption when they hold leadership positions in the country. We must confiscate these people’s assets, these assets belong to Cambodia, they must be confiscated back immediately. For wealth [acquired by corruption] deposited in various countries in the world, we must ask these countries to confiscate the assets belonging to corrupt officials and return them back to the Cambodian people.”
Sam Rainsy did not provide any name that he plans to ask international banks to confiscate from, however, he said the Global Witness report (“Country for Sale”) already contains all these names.
In June 2007, Global Witness issued a report titled “Cambodia’s Family Tree” (Family of the thieves of the nation in Khmer) in which it named high-ranking government officials and business tycoons involved.
Cheam Yeap, the CPP chairman of the National Assembly finance and banking committee, provided the following explanation on the issue above: “What he (Sam Rainsy) raised, it was his right, but according to the law, we cannot do that yet because (1) we don’t know who are involved, (2) there’s no proof that the money they deposited overseas all came from corruption or from squandering of state assets, and (3) the judges can only deal with charges leveled by prosecutors, if there is none, nothing can be done. The 3 points above are the law prohibiting from taking such action (as recommended by Sam Rainsy).”
Sek Borisoth, president of Pact Cambodia, said that nothing can be done as long as the anti-corruption law is not adopted yet. He agreed that there can be no fund freezing or fund confiscation from anyone until the court issues its decision.
In an interview with RFA in the morning of 16 Feb, Sam Rainsy charged that money deposited in overseas banks by a group of high-raking Cambodian government officials originated from the sale of Cambodian natural resources, such as logging, sale of islands and offshore concessions, etc… Therefore the money deposited should be confiscated and returned to the Cambodian people, the legitimate owner of the money.
Sam Rainsy said: “Those who hold position in the government must declare all their asset, and they also should provide the origin of their great fortune. If they come from legal business deals, then it is fine, but if they cannot provide the origin of the money, then it means that they got it from corruption when they hold leadership positions in the country. We must confiscate these people’s assets, these assets belong to Cambodia, they must be confiscated back immediately. For wealth [acquired by corruption] deposited in various countries in the world, we must ask these countries to confiscate the assets belonging to corrupt officials and return them back to the Cambodian people.”
Sam Rainsy did not provide any name that he plans to ask international banks to confiscate from, however, he said the Global Witness report (“Country for Sale”) already contains all these names.
In June 2007, Global Witness issued a report titled “Cambodia’s Family Tree” (Family of the thieves of the nation in Khmer) in which it named high-ranking government officials and business tycoons involved.
Cheam Yeap, the CPP chairman of the National Assembly finance and banking committee, provided the following explanation on the issue above: “What he (Sam Rainsy) raised, it was his right, but according to the law, we cannot do that yet because (1) we don’t know who are involved, (2) there’s no proof that the money they deposited overseas all came from corruption or from squandering of state assets, and (3) the judges can only deal with charges leveled by prosecutors, if there is none, nothing can be done. The 3 points above are the law prohibiting from taking such action (as recommended by Sam Rainsy).”
Sek Borisoth, president of Pact Cambodia, said that nothing can be done as long as the anti-corruption law is not adopted yet. He agreed that there can be no fund freezing or fund confiscation from anyone until the court issues its decision.
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