Treasury Sanctions Cambodian Tycoon and Businesses Linked to Human Trafficking and Forced Labor in Furtherance of Cyber and Virtual Currency Scams

WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning Cambodian businessman Ly Yong Phat (Ly), his conglomerate** L.Y.P. Group Co., LTD** (L.Y.P. Group), andO‑Smach Resort for their role in serious human rights abuse related to the treatment of trafficked workers subjected to forced labor in online scam centers. OFAC is also designating Cambodia-based** Garden City Hotel**,** Koh Kong Resort**, and** Phnom Penh Hotel** for being owned or controlled by Ly.“Today’s action underscores our commitment to hold accountable those involved in human trafficking and other abuses, while also disrupting their ability to operate investment fraud schemes that target countless unsuspecting individuals, including Americans,” said Acting Under Secretary of the Treasury for Terrorism and Financial Intelligence Bradley T.