The U.S. Treasury Department has imposed sanctions on Cambodian businessman Ly Vinh Phat for his alleged involvement in a “pig-killing scam” linked to human trafficking and torture. The sanctions include several of his businesses, particularly the O-Smach hotel, which was used to traffic people. The move will severely impact Mr. Ly and his companies’ ability to conduct financial transactions, effectively cutting off their access to the global financial system.

Key Points

- The U.S. Treasury Department has imposed sanctions on Cambodian businessman Ly Vinh Phat and his related businesses.

- The sanctions cover Ly Vinh Phat’s LYP Group and four Cambodian hotels.

- The O-Smach hotel was used to house trafficking victims, who were forced to participate in the financial scam.

- The sanctions prohibit U.S. persons and persons affected by U.S. law from engaging in any financial transactions with Ly.

- The sanctions could severely impact Ly’s business operations and cut off international financial access.

- The sanctions cover all transactions cleared through the U.S., regardless of whether U.S. persons were involved.

- The “pig-killing scam” has resulted in significant financial losses and deaths of victims.