OITC Story Unravels
In 2010 the secretive OITC suddenly surfaced in Cambodia’s capital Phnom Penh. The real estate firm Asia Real Property Co, Ltd identified itself in promotional material as the subsidiary of an international real estate consultancy known as "ARP-OITC Group Co Ltd (Cambodia)". This was even posted on a signboard in front of the office on Phnom Penh’s Norodom Boulevard.
During an interview with the Phnom Penh Post in October at the ARP-OITC offices in Phnom Penh, executive managing director Soush Saroeun claimed the firm was involved in joint ventures with companies from France, Canada and Vietnam. As proof of his claim he provided a document dated 29 December 2009 and signed by HSBC Group Finance Director "Dr David J Flint". As of December 2009, HSBC’s Group Finance Director was Douglas Flint.
Ray C. Dam and Soush Saroeun were arrested on Saturday 18 December 2010 in Dam’s luxurious home on Street 240 in Daun Penh district. According to Cambodia’s Minister of Information Khieu Kanharith, Prime Minister Hun Sen had personally ordered investigation into the case after learning that Dam had pretended to be an advisor to Senate President Chea Sim. Two days later, on 20 December 2010, the two were charged with forgery by the Phnom Penh Municipal Court after allegedly fabricating documents claiming ties to the United Nations, the United States government and HSBC Bank. Keith Scott left Cambodia hurriedly, shortly after these arrests.
According to unconfirmed reports on the internet, Dam was released from custody in early January 2011. The reason for his release is unknown.
Read more about this topic: Office Of International Treasury Control
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