BANGKOK, THAILAND – Thailand’s anti-money-laundering agency seized a further 8.2 billion baht in assets linked to an alleged international online investment fraud network, lifting the total value of frozen wealth in the case to more than 20 billion baht.
Further multibillion-baht seizure pushes total above 20 billion
The Anti-Money Laundering Office (AMLO) said the latest action covered assets worth 8.2 billion baht allegedly tied to a network centred on Benjamin Mauerberger, also known as “Ben Smith”, and businessman Yim Leak.
Combined with an earlier seizure of 12.1 billion baht, the overall value of assets frozen in connection with the case exceeded 20 billion baht, according to the agency.
34 assets targeted, including luxury cars and securities
The current measure covered 34 individual items, including luxury vehicles, bank deposits, loan receivables and securities accounts.
At least six vehicles were still being appraised, while the remaining items consisted of cash and other assets that authorities said belonged to the alleged network.
Alleged concealment via companies and frontmen
AMLO stated that the group had routed funds through corporate vehicles, front companies and capital market accounts in order to hide the origin of the money.
The aim was reportedly to conceal the beneficial owners and evade taxes, while investigators continued to trace the transactions.
Legal framework allows 90-day freeze and possible sale
The assets were initially frozen for up to 90 days under Thailand’s anti-money-laundering law.
If specific items were deemed unsuitable for safekeeping, AMLO could sell them and secure the proceeds, or return money to identified victims where possible.
Arrest warrants and possible Interpol Red Notice
Thai authorities had already obtained arrest warrants for Mauerberger and his wife in connection with alleged investment fraud and money laundering.
Police planned to bring the couple back to Thailand to face criminal proceedings, and reports said an Interpol Red Notice was being considered to help locate them internationally.
Investigators allege investor’s funds were diverted
Investigators claimed that a foreign investor had been persuaded to put money into several ventures, including stock trading, property projects and an energy project.
The funds were then allegedly diverted, forming the core of the fraud and money-laundering accusations.
Trail leads to Singapore and S$160 million freeze
Part of the probe involved Capital Asia Investments (CAI), a Singapore-based fund management company that authorities linked to the same network.
Singaporean agencies were said to have frozen assets worth more than 160 million Singapore dollars, or about 4 billion baht, while Thailand, according to AMLO, was awaiting further evidence from national bodies and regulators in Singapore.
Suspects deny charges and dispute civil versus criminal case
Both Yim Leak and Mauerberger rejected allegations that they were part of a transnational fraud network and called for a fair process.
Mauerberger’s lawyer, Witoon Keng-ngarn, described the matter as a civil dispute arising from a share purchase agreement linked to an energy investment involving Laos, and questioned the scale of the frozen assets in relation to the alleged damage.
“The matter is a civil dispute from a share purchase agreement tied to an energy investment with a Laos connection, and the extent of the frozen assets does not match the alleged damage.”
said Witoon Keng-ngarn, lawyer for Mauerberger.
Wide-ranging probe with multiple Thai agencies
AMLO was working with the Royal Thai Police and the Securities and Exchange Commission in an investigation that included allegations of fraud, cybercrime and organised crime.
Official information also cited suspected offences such as human trafficking, drug crimes and gang involvement, as inquiries into transnational financial structures continued.
Location unclear as authorities suspect move abroad
Authorities believed that Mauerberger left Thailand in 2025 and might currently be in the United Arab Emirates.
In parallel, AMLO continued to track money flows to pursue criminal action against international financial networks attributed to the suspects.