On October 27, Thai authorities announced the freezing and confiscation of assets worth 35.8 billion baht — approximately $1 billion USD. The measure was taken as part of an investigation into a transnational money laundering network involving, according to investigators, South African businessman Benjamin Mauerberger, also known as Ben Smith, and his Cambodian partner Yim Lik. This was reported by a Vietnam News Agency correspondent in Bangkok. The operation became one of the largest in the history of Thai financial oversight and spanned multiple jurisdictions.

Fund Transfer Scheme

According to the Royal Thai Police, the Anti-Money Laundering Office (AMLO), and the Securities and Exchange Commission (SEC), the criminal group is accused of transferring proceeds of crime through banks in Cambodia and investment funds in Singapore. Investigators claim the money was then used to buy shares of companies listed on the Stock Exchange of Thailand (SET). Thus, according to the authorities, illicit capital flows were laundered through the country's securities market.

What Exactly Was Seized

Among the confiscated assets, investigators named shares in companies such as Bangchak, VGI, and MFC Fund Management Company, totaling 14.8 billion baht. In addition to securities, the seizure list included real estate, yachts, luxury cars, and cash in bank accounts. The total volume of frozen assets, according to the authorities, is about 35.8 billion baht.

Profile of the Key Figure

According to the investigation, Mauerberger was previously banned from acting as a stockbroker in New Zealand. After that, he moved to Bangkok and, investigators claim, established ties with several officials. It is noted that he and his Thai wife left the country in September 2025 — before the crackdown on illicit securities trading began, which authorities say made his apprehension difficult.

Arrests and International Wanted List

Thai authorities have issued arrest warrants for seven suspects on charges of money laundering, participation in organized crime, and violations of the Securities Act. Six of them, currently residing abroad, have been placed on Interpol's Red Notice list. The investigation continues: according to the authorities, its goal is to recover the confiscated assets and pay compensation to affected investors.