Phnom Penh (FN), May 19 – Phnom Penh municipal court's investigating judge Leang Somnath ordered to detain Yaw Foo Hoe, owner of GCG Asia Co., LTD, allegedly charged with "premeditated fraud".

The suspect was sent to Prey Sar prison on Sunday, senior court official told Fresh News earlier today.

It is worth noting that the National Bank of Cambodia issued a press release on Friday to denounce the falsified information of GCG Asia Co., LTD, which stated that the company was granted a money-exchanging permit by the National Bank.

GCG Asia Co., LTD falsified information that it received permit from the National Bank to conduct financial transaction, according to the press release.

GCG Asia Co., LTD illegally uses the name and logo of National Bank of Cambodia on its website, the press release added.

National Bank of Cambodia urged the public to avoid being scammed by GCG Asia Co., LTD and stated that the Bank used to inform the public that it does not accept Crypto Currencies or similar digit assets.

National police commissioner Neth Saveoun confirmed Friday that GCG Asia Co., LTD is an international corporate fraud, conducting business in a dishonest and illegal manner, and that the company was blacklisted by the Malaysian and Indonesian governments.

GCG Asia Co., LTD office in Phnom Penh’s Daun Penh district was temporarily shut down on 17 May 2019 for illegally using Cambodian Prime Minister's name and photo on its website.

"GCG Asia Co., LTD took my photo and name for the propaganda on its website, claiming that I would attend the company's launching ceremony on 20 May 2019. In addition, the company has listed the National Bank of Cambodia (NBC) and the Bank of China as responsible partners in the Crypto Currency trading business," Cambodian Prime Minister Hun Sen wrote on Facebook on Thursday.

Prime Minister Hun Sen denounced the information posted on the company's website. He urged Cambodian citizens and business people local and broad to be highly cautious in financial trade, and avoid any transactions without government's authorization.

GCG Asia Co., LTD wrote on its website that: "GCG Asia is supported by Hun Sen the Prime Minister of Cambodia. He will be the Honor Ambassador for GCG Asia open ceremony in Cambodia."