U.S. Treasury Sanctions Cambodian Senator Over Crypto Scams

Treasury sanctions Cambodian senator Kok An and 28 others tied to crypto investment scams. Here’s what happened.

The U.S. Treasury Department has taken decisive action against a major crypto fraud network. 

On April 23, 2026, the Office of Foreign Assets Control (OFAC) sanctioned Cambodian senator Kok An. The designation also covered 28 affiliated individuals and entities. These operators allegedly ran scam compounds targeting Americans with digital asset fraud. 

Treasury Secretary Scott Bessent confirmed the action was a top administration priority.

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How the Cambodian Crypto Scam Network Targeted Americans

Kok An controls a network of properties across Cambodia. His flagship company, Crown Resorts, operates casinos and resorts in cities like Poipet, Sihanoukville, and Bavet. 

According to the Treasury press release, criminal organizations converted these properties into active scam hubs. 

Fraudsters reportedly used fake romantic relationships and friendship to lure victims. They then convinced targets to deposit savings into counterfeit digital asset investment platforms.

The Treasury Department estimates Americans lost at least $10 billion in 2024 to Southeast Asia-based scam operations. That figure represents a 66 percent jump over the previous year. 

Victims have reportedly lost millions of dollars each, and some lost their entire life savings. Individual losses made this one of the most damaging fraud trends targeting U.S. citizens.

A particularly troubling detail emerged in Treasury’s findings. 

Many scammers working in these compounds were themselves victims of human trafficking. Operators reportedly confiscated their passports and used violence and debt bondage to force participation.

Key Figures and Entities Sanctioned in the Crackdown

Beyond Kok An, OFAC designated several close associates. 

Rithy Raksmei, head of K99 Culture and Media Co Ltd, owns properties where trafficking victims reportedly carried out scams.

His network includes companies like Xing Tian Di and Nan Hai, both cited in trafficking victim testimonies for online fraud and unlawful detention.

Luo Hong founded Brilliancy Sihanoukville Investment and Development Co Ltd, also known as Bolai. The U.S. Secret Service traced at least $1.3 million in victim funds directly to Luo Hong’s bank accounts. 

Eight U.S.-based co-conspirators have already pleaded guilty in the scheme. Separately, Heng Feng Cambodia Bank, controlled by Sai Aung Linn, also received sanctions.

Treasury also flagged Aik Paung and Sai Aung Linn, two Burmese-born men holding Cambodian citizenship. Both had management roles at Nan Hai and co-own Xihu Resort Hotel, another K99-linked casino property.

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Broader Enforcement Action and What Comes Next

This action connects directly to the Scam Center Strike Force. That initiative involves the U.S. Attorney’s Office for the District of Columbia, the DOJ Criminal Division, the FBI, and the Secret Service. 

The Strike Force simultaneously announced charges against individuals running a scam compound in Burma. Authorities also seized 503 fraudulent web domains and a social media app used to recruit trafficking victims.

The State Department is now offering up to $10 million for information on seized crypto proceeds linked to the Tai Chang scam compound. 

An additional $4 million reward is available for information leading to the arrest of convicted money launderer Daren Li, who remains a fugitive.

Treasury confirmed it will continue pursuing entities that exploit the digital asset industry for criminal gain.

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