Tycoon Ly Yong Phat Denies Thai Allegations, Says Claims Target Him Personally Not Cambodia

PHNOM PENH, Cambodia (Nov. 21, 2025) — Cambodian tycoon Ly Yong Phat has rejected reports in Thai media and on social platforms linking him to online crime, money laundering and human rights abuses, calling the allegations “baseless and false.”

Speaking as president of the Oknha Association of Cambodia, Yong Phat said the claims were intended to damage his reputation. He also denied reports that his assets in Thailand had been seized.

Addressing specific allegations, Yong Phat said Thai authorities had not frozen his assets, contrary to reports of amounts ranging from 70 million to 400 million baht. “I confirm that I do not have any money in Thailand and that my name is not on any list as claimed,” he said.

He acknowledged Thai authorities inspected three locations linked to him on Nov. 9 — two houses and one office — but said no evidence of illegal activity was found. He added that videos circulating online did not depict his properties and rejected claims he owned 36 buildings in Thailand.

Yong Phat said he rents properties to Cambodian and foreign nationals for legitimate business purposes under formal contracts, stressing he does not allow illegal activity.

Cambodian Senate spokesman Chea Thyrith earlier dismissed a Thai court’s arrest warrant for Yong Phat, calling it a “populist political tactic” without legal basis. Thyrith said the senator is protected by parliamentary immunity and cannot be extradited under Cambodia’s Constitution.