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Fraud Case: Myanmar Rice Traders Association To File Lawsuit

7 January 2018

Myanmar Rice Traders Association will file a lawsuit against Aung Swe Oo Company Ltd. for defrauding local merchants. 

Aung Swe Oo (A.S.O Co., Ltd) swindled the merchants out of 5.3 billion kyats.

Myanmar Rice Traders Association received the complaint letters from 64 local merchants concerning the defraud case.

Chairman, Myanmar Rice Traders Association, Aung Than Oo said “We are now preparing to file a lawsuit – we will carry out step by step.”

One of the merchants who always send rice to the Bayintnaung Wholesale expressed her experiences on this case.

Merchant, Dhanuphyu Township, Htwe Kyi said “We don't know the company because every time we sell through the brokers. We lost 200 million kyats and it’s the first time for me in 20 years.  We are now waiting for the association’s arrangement to get back our money.”

The A.S.O. company recently entered the rice export market - the company is not a member of Bayintnaung Wholesale market.