Thailand Seizes R4.26 Billion in Assets Linked to SA Businessman in Cyber Scam Probe

Thai authorities seized assets worth 8.3 billion baht (R4.26 billion) 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 Thursday.

Those Implicated

The network of offenders included:

• Benjamin Mauerberger , also known as Ben Smith (South African-born businessman)

• Yim Leak (Cambodian tycoon)

• Their spouses

• A Thai woman who carried out financial transactions on their behalf

Thai Prime Minister Anutin Charnvirakul said at the briefing that the accused have engaged not only in scam operations but also in drug-related crimes.

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

The Crackdown

“The threat from scammers is becoming increasingly sophisticated and widespread, with tens of thousands of our people falling victim and losing everything,” 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.

The Manhunt

Thai police are separately investigating a fraud case against Mauerberger, who was previously based in Bangkok but whose whereabouts are currently unknown.

Police plan to summon him to face charges, said Nattasak Chaowanasai , Commissioner of the Central Investigation Bureau.

If he fails to show up, police will obtain an arrest warrant and request that Interpol issue a Red Notice for his arrest.

The Aftermath

Assets obtained from the network will become state property and will be distributed back to the victims proportionately, 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.

The Bottom Line

R4.26 billion in assets seized. A South African-born businessman at the centre of an alleged money-laundering network. His whereabouts unknown.

Thai authorities are cracking down. An arrest warrant is coming. And Interpol may soon be involved.

{Source: BusinessTech}

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