Kor is listed on LinkedIn as the manager of CK Design & Drafting Services. He was also the director of CK International Holdings and used his business account to receive the two victims\u2019 stolen money in February 2023. <\/p>\n
Though the judge found he was not party to the sophisticated investment scam, Kor acted as a \u201cmoney mule\u201d and was reckless as to whether the funds landing in his account were the proceeds of crime. <\/p>\n
Kor transferred most of the money to accounts in Singapore. About $67,000 was still sitting in his account when it was frozen by his bank in March 2023. The money was later used to pay court-ordered reparation to the victims. <\/p>\n
Carla O’Neil lost $100,000 in an elaborate investment scam in which she thought she was putting the money into a Citibank term deposit. Photo \/ Michael Craig<\/p>\n
One of them was North Shore real estate agent Carla O\u2019Neil<\/a> who lost $100,000. She was tricked into believing she was investing in a low-risk Citibank term deposit.<\/p>\n She said being defrauded had caused shame, severe stress, sleepless nights and anxiety. It had also shaken her confidence in people, institutions and herself. <\/p>\n \u201cShe has to look her child in the eyes and carry the weight of shame and uncertainty,\u201d Judge Stephen Bonnar, KC, told Kor during his sentencing. <\/p>\n The other victim was a widow who lost $135,000. She said the money had been saved by her and her late husband through years of hard work. It was meant to secure their son\u2019s financial future.<\/p>\n Her world \u201ccollapsed\u201d after learning she had been conned. She suffered panic attacks so severe she couldn\u2019t breathe and was still too ashamed to tell her son what happened to the money.<\/p>\n \u201cShe no longer trusts people, fears the internet and has been prescribed anti-depressants,\u201d the judge said.<\/p>\n \u201cHer confidence is shattered and she must work longer than she ever planned because of the loss of her life savings.\u201d<\/p>\n Judge Bonnar said Kor was not a fraudster and ultimately did not benefit financially from the scam.<\/p>\n However, he played a pivotal role in the scheme and was instrumental in the victims losing their money. <\/p>\n \u201cYou turned your mind to the possibility that the funds received were the proceeds of crime, nevertheless you continued to deal with those funds.<\/p>\n \u201cWithout you, there would not have been a bank account into which deposits could be made, and without you the funds would not have made their way offshore.\u201d<\/p>\n Kor claimed he was directed to send funds overseas by \u2018Raffi\u2019<\/p>\n The judge read from an affidavit Kor submitted to the court. <\/p>\n It detailed how he\u2019d come to New Zealand from Cambodia and built a drafting company through hard work and word of mouth. <\/p>\n The company struggled after the Covid pandemic and he had looked for other business interests to help financially. <\/p>\n Kor travelled to several countries, met an associate called Raffi and the pair discussed business ventures, the court heard. <\/p>\n It was agreed Raffi would source building materials such as marble and slate to import into New Zealand.<\/p>\n Kor\u2019s job was to find funds to pay for the imported products but he was rejected by banks.<\/p>\n Raffi then claimed he had found New Zealand investors and made logistical arrangements, the court heard. <\/p>\n \u201cYou say the $235,000 appeared in your bank account from the two victims,\u201d Judge Bonnar said. \u201cRaffi directed you to send that money to Singapore.\u201d<\/p>\n Kor wanted to wait a week before sending the money, because the large transactions could attract attention, the court heard.<\/p>\n In all, he sent $167,000 overseas in four transfers, while $67,000 remaining in his business account was frozen by the bank. <\/p>\n Judge Bonnar said Kor had been \u201crelieved to have got the money from somewhere after being rejected by the banks\u201d. <\/p>\n He now agreed he\u2019d put \u201ctoo much trust in Raffi\u201d and accepted he should have asked more questions and done due diligence.<\/p>\n Kor\u2019s lawyer Charle Megala said his client was remorseful, had no previous convictions and did not realise the venture was a scam. <\/p>\n He had begun paying $250 a week in reparation to the victims towards their losses. <\/p>\n Megala argued Kor should be granted a discharge without conviction and permanent name suppression. A conviction might prevent him from being a director of his company and publication of his name could ruin his business. <\/p>\n The judge dismissed the applications, saying he must denounce the offending and deter others from using their bank accounts to receive stolen money. <\/p>\n There had been a \u201csignificant increase\u201d in financial scams targeting the public that often had devastating impacts for victims. <\/p>\n Any negative impacts on Kor\u2019s employment or professional reputation were the \u201cordinary consequence\u201d of criminal offending, the judge said.<\/p>\n Judge Bonnar sentenced him concurrently to six months\u2019 home detention on each charge and ordered reparation of $60,000 for the first victim and $7800 for O\u2019Neil.<\/p>\n Judge Bonnar declined a further suppression order, saying the public had the right to know Kor\u2019s identity.<\/p>\n Kor\u2019s money laundering crimes \u2018moderately grave\u2019<\/p>\n Kor appealed the judge\u2019s sentence and suppression decision. The matter was heard in the High Court at Auckland in November. <\/p>\n A judgment by Justice Mathew Downs dismissed the sentencing appeal, ruling that Kor\u2019s offending was \u201cmoderately grave\u201d and home detention was appropriate. <\/p>\n The offending had significant impact on the victims and there was a need for general deterrence. <\/p>\n The judge said money laundering could be committed with \u201crelative ease\u201d and could also cause great harm. <\/p>\n \u201cThis case is illustrative of both propositions.\u201d <\/p>\n Kor then abandoned his suppression appeal, meaning he can now be named. He declined to comment. <\/p>\n O\u2019Neil was one of the first investment scam victims to go public with her story after a wave of fraud cases in late 2022 and early 2023.<\/p>\n She helped spearhead a victims\u2019 group that has highlighted failures in the banking system, calling for compensation and better safeguards to protect customers.<\/p>\n In 2024, the Banking Ombudsman ordered O\u2019Neil\u2019s bank, BNZ, to reimburse nearly $300,000 to her and another victim, Borja Ares<\/a>.<\/p>\n The Ombudsman ruled that the BNZ missed crucial \u201cred flags\u201d concerning the scam and failed to act with reasonable skill and care.<\/p>\n Lane Nichols is Auckland Desk Editor and a senior journalist for the New Zealand Herald with more than 20 years\u2019 experience in the industry.<\/p>\nChamroeun Kor (right) in the dock at Auckland District Court during his sentencing on money laundering charges. Photo \/ Cameron Pitney<\/p>\n
Chamroeun Kor can finally be named after abandoning his bid for name suppression following his convictions for money laundering. Photo \/ Cameron Pitney<\/p>\n
Judge Stephen Bonnar, KC, refused to grant permanent name suppression, saying the public had a right to know. Photo \/ Sylvie Whinray.<\/p>\n
Carla O’Neil was reimbursed by her bank for a scam where she lost tens of thousands of dollars. Photo \/ Alex Burton<\/p>\n