Director of Hong Kong-listed FSM Holdings resigns amid Cambodian crime allegations
Resignation follows US authorities’ accusation that Li Thet was involved with criminal network linked to Prince Holding Group
Li Thet, executive director of Hong Kong-listed FSM Holdings, resigned after US authorities linked him to an alleged Cambodian cyber-scam operation.
Li resigned from all positions at FSM Holdings, including executive director, board chairman and nomination committee chairman, effective October 21, the company said in a filing with the Hong Kong stock exchange on Tuesday.
FSM Holdings immediately initiated an internal assessment and took steps to ensure full compliance with applicable laws and regulations upon learning of the US Treasury Department’s announcement, it said.
“The company is currently seeking professional advice to assess and address the situation and will make further announcements as and when appropriate,” it added.
Li, also known as Li Tian in Chinese, was born on July 6, 1987, in Beijing and held both Chinese nationality and Cambodian citizenship, as well as a Vanuatu passport, the OFAC said.