BANGKOK, Thailand – Thai authorities are stepping up efforts by auctioning a superyacht worth 600 million Baht, seized during extensive investigations into the network of Ben Smith. The operation has already resulted in asset freezes exceeding 20 billion Baht. This significant action marks a pivotal moment in the country’s largest financial crime case.
51-meter luxury yacht goes under the hammer
The auction of the yacht named “ATLAS” is a highly visible measure related to the nation’s largest financial crime case. The Anti-Money Laundering Office (AMLO) announced the sale of the vessel, built in 2017, along with a companion boat.
The oral auction was announced on June 12. The estimated value of the yacht alone is 600 million Baht.
A luxury tender is also being auctioned
Alongside the main yacht, the “ATLAS STRIDER” is also set to go under the hammer. This is a luxury rigid inflatable boat from the SACS-Strider series, constructed in Italy. Its value is estimated at 8.1 million Baht and it typically served as a tender for the larger superyacht.
What lies behind the seizure
Investigators state the yacht belongs to the wife of Benjamin Mauerberger, more commonly known as Ben Smith. The South African native is at the center of a vast transnational fraud network. Thai authorities have linked Smith to Cambodian businessman Yim Liak, alleging they laundered proceeds from cyber fraud across Southeast Asia.
Network under immense pressure
Prime Minister Anutin Charnvirakul personally announced the scale of the operation on April 9. Investigators reportedly confiscated assets in two major waves. Initially, 68 items valued at 12 billion Baht were frozen. A second wave secured an additional 34 items worth 8.2 billion Baht.
Billion-baht haul secured in multiple waves
Cumulatively, the asset freezes surpassed 20 billion Baht. The Prime Minister instructed authorities to continue their firm approach, guided by the principle of “behavior, not identity.” The objective is to protect victims’ rights and compensate them from confiscated funds where legally permissible.
Not just yachts, but also luxury villas and shares
The seized assets extend beyond vessels. Investigators secured high-value properties and luxury condominiums throughout Thailand. This also includes premium vehicles, bank deposits, and securities accounts. The second wave alone contained 7.72 billion Baht in liquid assets.
Arrest warrants and international manhunt
Thai arrest warrants have been issued for Ben Smith and his wife, Cattaliya Beevor, also known as Katreeya. The police have involved Interpol, and an international Red Notice is now active. The couple is believed to have left Thailand before the intensification of measures and are reportedly in the United Arab Emirates.
The auction is just part of the reckoning
The sale of the “ATLAS” is a milestone in the ongoing asset recovery program. Authorities view the auction as a clear signal to all perpetrators. The case has evolved into one of the country’s most significant financial investigations, with the total value of all secured network assets exceeding 20.39 billion Baht.