Tycoon free after striking deal
A tycoon arrested on Tuesday by military police on fraud charges yesterday walked free after striking a deal with the man he defrauded, court officials said. Meas Chanpiseth, deputy prosecutor of the Phnom Penh Municipal Court, said that 52-year-old tycoon Peang Kosal, executive director of the Banya Group Company, was released yesterday after negotiations with the plaintiff. … Kouy Thunna, defence lawyer for Peang Kosal, said his client was accused by Ly Keat, General Director of the GM Co, Ltd, of cheating US$23,000 from him in connection with the construction of roads into the New Angkor City in Siem Reap province in 2009. …
