Thailand seizes $329 million assets linked to alleged scammers

BANGKOK – The Thai authorities seized assets worth 8.3 billion baht (S$329 million) belonging to people behind an alleged money-laundering network linked to transnational cyber scam operations in Cambodia. 

The latest seizure by the Anti-Money Laundering Office included cash, cars, bank deposits and other securities, bringing the total value of assets confiscated in the widening probe to more than 20 billion baht, officials said at a briefing in Bangkok on April 9. 

The network of offenders included South African-born businessman Benjamin Mauerberger, also known as Ben Smith, Cambodian tycoon Yim Leak, and their spouses, as well as a Thai woman who carried out financial transactions on their behalf, Thai Prime Minister Anutin Charnvirakul said at the briefing. The accused have engaged not only in scam operations but also in drug-related crimes, he said.  

Mr Mauerberger and Mr Leak’s lawyers have previously denied the charges. 

“The threat from scammers is becoming increasingly sophisticated and widespread, with tens of thousands of our people falling victim and losing everything,” Mr Anutin said. “My fellow citizens and the international community want these crimes to be dealt with decisively.”  

Thai authorities previously confiscated 68 items worth 12.1 billion baht from the group earlier this year, including land, condominiums, cars, yachts, and funds in bank accounts. 

In recent years, Thailand has faced a growing challenge in curbing the illegal, industrial-scale scam hubs operating out of Cambodia, Laos and Myanmar. The billion-dollar operations are often run by Chinese fugitives who fled their home country in 2020 following a domestic crackdown. 

Bangkok began cracking down on such operations since early 2025, but it ramped up efforts after territorial tensions escalated into deadly border clashes with Cambodia last year. Mr Vorapak Tanyawong, a deputy finance minister in Mr Anutin’s previous administration, resigned last year after Whale Hunting, an online investigative-journalism outlet, reported that he and his wife had financial connections to the alleged scam network. 

Thai police are separately investigating a fraud case against Mr Mauerberger, who was previously based in Bangkok but whose whereabouts are currently unknown, and plan to summon him to face charges, said Commissioner of the Central Investigation Bureau Nattasak Chaowanasai. If he fails to show up, police will obtain an arrest warrant and request that Interpol issue a Red Notice – an international alert – for his arrest, Mr Nattasak told reporters. 

Assets obtained from the network will become state property, and will be distributed back to the victims proportionately, Mr Anutin said. Agencies including the Royal Thai Police and the Securities and Exchange Commission will expand their investigation and legal action will be considered against the perpetrators, he said. 

In a statement, the SEC said it will cooperate with law enforcement authorities to exchange information and track suspicious financial transactions. Earlier, the regulator was criticised for not promptly investigating the exposure of Capital Asia Investments – a company facing a probe in Singapore for suspected money laundering – in Thailand’s capital market. BLOOMBERG