VOD, Dec. 8, 2020
Thousands of villagers in Kampong Speu province took three people hostage for three nights after pouring tens of thousands of dollars each into a massive Ponzi scheme allegedly run by a local family, local officials said.
The scam enveloped whole villages, village chiefs, commune officials and even IDPoor recipients over just a few months, with victims selling motorbikes, cows and borrowing from banks and microfinance companies to invest in the scheme, according to the officials.
Two officials estimated the total value of the scam in the rural villages at tens of millions of dollars, though this could not be confirmed. It was run by seven individuals, several of whom are on the run, authorities said.
Por Chamroeun commune chief Hang Sambor, in Baset district, said 3,000 villagers had brought pillows and rugs to camp outside the commune hall in protest, seeking help from authorities.
Three of the perpetrators were trapped inside, with police unable to reach them due to the gathered villagers, Sambor said.
In full: https://vodenglish.news/villagers-take-hostages-after-massive-multimillion-dollar-scam/
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