Thai authorities have issued an arrest warrant for Cambodian tycoon and senator Ly Yong Phat, one of Cambodia’s most influential businessmen and a long-time ally of the country’s ruling Hun family. The 67-year-old senator is accused of laundering money linked to large-scale cyber-scam networks that have operated across Southeast Asia in recent years.
The Royal Thai Police confirmed the warrant on Monday, stating that it follows an extensive investigation into transnational crime syndicates suspected of running online fraud operations out of Cambodia, Myanmar, and Laos. These operations are believed to have defrauded thousands of victims globally through investment scams, fake cryptocurrency platforms, and human trafficking-linked call centers.
According to Thai officials, the probe uncovered evidence that millions of dollars in illicit profits from these scams were funneled through companies associated with Ly Yong Phat’s business empire, including subsidiaries in logistics, construction, and energy. The warrant accuses him of money laundering, facilitating criminal activities, and obstructing cross-border investigations.
Ly Yong Phat, often referred to as the “Sugar King” for his vast interests in Cambodia’s sugar industry, is also known for his close political and business ties to former Cambodian Prime Minister Hun Sen and his son, current Prime Minister Hun Manet. His conglomerate, LYP Group, has been involved in major infrastructure and real estate projects across Cambodia, often in partnership with Chinese investors.
Neither Ly Yong Phat nor representatives of the LYP Group have responded publicly to the allegations. Cambodian authorities have not commented on whether they will cooperate with Thai requests for extradition, though legal experts suggest it could become a politically sensitive issue between the two neighboring countries.
Analysts say the case underscores the growing pressure on Southeast Asian governments to crack down on cyber-scam networks, which have become a major source of regional criminal activity. In recent months, both the United Nations and the ASEAN Secretariat have urged member states to strengthen cooperation against digital financial crimes and the trafficking of workers forced into scam operations.
Thailand’s National Police Chief, General Torsak Sukvimol, said in a briefing that the investigation remains ongoing and that additional suspects may soon be named. “Our goal is to dismantle the entire financial ecosystem that enables these criminal enterprises to thrive,” he said.
If convicted in Thailand, Ly Yong Phat could face up to 15 years in prison, alongside heavy financial penalties. The case marks a dramatic fall from grace for one of Cambodia’s most powerful businessmen and could have broader implications for the region’s political and economic elite.
