AMLO seizes hundreds of assets tied to South African financier Ben Smith, Cambodian tycoons Chen Zhi and Kok An, uncovering transnational fraud, cryptocurrency laundering, investment scams and property concealment totalling billions in Thailand.
On Tuesday, the Anti-Money Laundering Office (AMLO) named South African financier Ben Smith among those linked to seized assets. Sixty-six assets worth ฿9.279 million were frozen with ties to the adviser to Cambodia’s strongman Hun Sen. Other figures linked to money laundering in Thailand, including Kok An and Prince Group chief Chen Zhi, were also named by the agency tracking ill-gotten wealth. In October, Smith sued People’s Party MP Rangsiman Rome after being labelled a national threat in parliament, demanding ฿100 million in damages.
The Anti-Money Laundering Office (AMLO) has seized hundreds of assets linked to transnational financial crime. Specifically, the seizures involve South African financier Benjamin Mauerberger, also known as Ben Smith, as well as Cambodian businessmen Chen Zhi and Kok An, along with their associates.
AMLO reported that 66 assets connected to Mr. Smith have been frozen. Moreover, their total value is ฿9.279 million. Authorities also linked him to fraud and online criminal activity. However, government agencies and security services had recently assured the public that he had no criminal record in Thailand.
Furthermore, Mr. Smith filed a ฿100 million defamation lawsuit against People’s Party MP Rangsiman Rome in early October. In addition, he is connected to Deputy Prime Minister Thamanat Prompow, whose lawyer initially filed the proceedings. Subsequently, the lawyer resigned from the case and was appointed to the Prime Minister’s Office under Anutin Charnvirakul.
AMLO freezes 66 assets linked to Ben Smith highlighting links to criminal activity in the kingdom
Meanwhile, Chen Zhi, head of Prince Holding Group, a multinational conglomerate in Cambodia, is under investigation. The FBI conducted inquiries in November into his activities. Investigators said Chen Zhi and his associates operated a network engaged in online fraud, human trafficking, and cryptocurrency money laundering, with operations largely based in Cambodia.
Moreover, authorities traced financial trails connecting multiple countries. Consequently, AMLO seized 102 assets tied to this network, including land, cash, branded goods, and jewellery, with a combined value of ฿373 million.
Kok An and his associates were also implicated in a transnational crime organisation and money laundering. Investigations revealed links to victims, bank accounts, and property. Furthermore, facilities in Cambodia, such as a 25-story and an 18-story building, the Hiso building, and the Crown Casino building, were used to launder funds.
Additionally, the network required mule accounts to scan faces to authorise transactions. Accordingly, AMLO confiscated 90 assets in this case, including land and bank deposits, totalling ฿467 million.
Chen Zhi and Kok An networks uncovered with hundreds of assets seized in fraud and laundering cases
Furthermore, Ms. Tangthai Banmahing and her associates deliberately deceived victims by claiming knowledge of illegal shipments from Chiang Rai to China. Investigators subsequently discovered bank accounts linked to money laundering and fraudulent activities. In addition, transactions connected to Ben Smith were identified. Moreover, funds moved between multiple domestic and international companies, giving the appearance of legitimate business. Consequently, AMLO seized 66 assets, including land, condominiums, securities, and bank deposits, valued at ฿9.279 million.
In another case, Mr. Uea-Angkoon Santirakyothin and his associates ran a fraudulent stock investment scheme. Specifically, they used a Line group called “Investment Strategy” to attract investors. Members were instructed to invest through the ULELA Max application.
Investigators further found that the proceeds were converted into USDT cryptocurrency and then transferred to digital wallets linked to Cambodian companies. As a result, AMLO froze 31 assets, primarily cash and bank accounts, worth ฿46 million.
Tangthai Banmahing and Uea-Angkoon networks reveal complex laundering and fraudulent activity
On December 2, 2025, the Transaction Committee resolved at its 13/2025 meeting to seize and freeze assets tied to four major cases. The cases involved a transnational technology crime network. Altogether, authorities seized 289 assets with a combined value of approximately ฿10.165 billion.
Investigators found the networks used hybrid scams to defraud victims. Money moved through banks, digital wallets, and multiple intermediaries. Property transactions, cryptocurrency, and company accounts concealed the origin of illicit funds. Authorities identified multiple individuals facilitating these operations across Thailand, Cambodia, and other countries.
In the case of Mr. Smith, seizures occurred despite assurances from Thai authorities. Investigators linked him to cross-border money flows and online criminal activity. His legal proceedings against Rangsiman Rome and his connection to Deputy Prime Minister Thamanat Prompow highlight overlapping political and financial implications of these revelations.
Transaction committee freezes 289 assets in major crackdown on hybrid international crime
Chen Zhi’s network laundered funds through both cryptocurrency and traditional banking. Investigators traced complex financial trails. Assets included land, cash, branded goods, and jewellery. AMLO valued the 102 assets at ฿373 million. Numerous associates were involved in facilitating transactions.
Kok An’s network used real estate and banking assets to hide illicit gains. Investigators documented structured transfers and proxies holding property. Ninety assets, including land and bank deposits valued at ฿467 million, were confiscated. These measures disrupted operations across multiple jurisdictions.
Ms. Tangthai Banmahing’s network involved layered financial transactions. Transfers linked her activities to Ben Smith and other network members. Authorities seized 66 assets, covering land, condominiums, securities, and bank accounts. The total value was ฿9.279 million.
Chen Zhi, Kok An and Tangthai Banmahing networks show layered fraud and transnational money laundering
Mr. Uea-Angkoon Santirakyothin’s investment scam misled investors with online instructions and promises of profits. Proceeds were converted into USDT cryptocurrency and routed through digital wallets tied to Cambodian companies. Thirty-one assets were seized, valued at ฿46 million, including cash and bank accounts.
The four cases reveal structured methods used by transnational criminal networks. Investigators documented layered transactions, complex asset concealment, and coordination across Thailand, Cambodia, and other countries. Digital currencies and hybrid scams facilitated laundering and deception. Authorities said the seizures illustrate how networks manage and conceal illicit wealth.
All confiscated assets remain frozen under AMLO supervision. Officials are reviewing ownership, transfers, and connections to associates. Any attempt to move or conceal the assets will trigger immediate legal action.
Investigators continue cross-border monitoring of cryptocurrency and financial flows
Authorities said investigations continue in multiple jurisdictions. Collaboration with international agencies, including the FBI, tracks cryptocurrency flows, monitors digital wallets, and traces cross-border transactions. Officials aim to identify additional assets and participants in transnational crime networks.
The Transaction Committee emphasised the scale of these operations. The seizures represent some of the largest enforcement actions against transnational criminal assets in recent years. Networks engaged in online fraud, cryptocurrency laundering, human trafficking, and investment scams. Confiscated assets include land, buildings, condominiums, securities, cash, and branded goods.
Investigators said the seizures provide a detailed map of the networks’ operations. Cryptocurrency conversions, digital wallet transfers, and traditional bank transactions were traced across multiple countries. Property and financial assets in Thailand and Cambodia were often held under proxy names or related persons.
AMLO highlights extensive reach and complexity of transnational financial crime networks
Authorities confirmed that ongoing enforcement targets the masterminds controlling these networks. Investigators identified overlapping financial, political, and commercial connections among Mr. Smith, Chen Zhi, Kok An and other associates. Networks relied on hybrid methods combining digital fraud, money laundering, and property concealment.
AMLO confirmed that seized assets include land, buildings, condominiums, securities, cash, and branded goods. Cryptocurrency and online platforms were used to hide proceeds. Confiscated property will remain frozen pending investigation and potential forfeiture under Thai law.
The cases highlight diverse criminal methods, including fraud, investment scams, cryptocurrency laundering, and asset concealment. Financial paths involved multiple intermediaries, international transfers, and domestic accounts. Investigators traced ownership, asset movement, and transaction patterns to dismantle the networks.
Officials said the networks structured transactions to resemble legitimate business operations. Multiple layers obscured ownership while funds moved across domestic and international entities. These measures allowed the masterminds to hold assets indirectly through associates or companies.
AMLO confirms seizures disrupted networks and ongoing operations will continue across jurisdictions
AMLO said the seizures disrupted ongoing operations and removed financial infrastructure supporting transnational crime. Investigations continue to identify further assets, network associates, and links to Cambodia, Thailand, and beyond. Authorities stressed ongoing vigilance and enforcement.
Altogether, 289 assets were seized across the four cases, with a combined value of ฿10.165 billion. These included land, condominiums, buildings, bank deposits, cash, and branded goods. Coordination between Thai and international agencies played a key role in freezing and confiscating these assets.
Authorities emphasised that all network associates and related individuals remain under close investigation. Digital currency, online platforms, and property holdings continue to be monitored. Officials confirmed that further seizures and legal actions are planned as investigations progress.
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The seized assets represent the scale and complexity of transnational financial crime. Hybrid scams, cryptocurrency transfers, property concealment, and online fraud demonstrate sophisticated methods used by the networks. Investigators said cross-border coordination and asset tracking are crucial to dismantling operations.
Officials confirmed that additional enforcement will continue. The focus remains on disrupting financial flows, tracing ownership, and holding masterminds accountable under Thai and international law. AMLO said the seizures mark a significant step against organised transnational criminal networks.
While Tuesday’s news shows that Thai authorities are moving against these networks, there is still evidence of far larger financial operations, particularly related to Thailand’s financial markets and even the Stock Exchange of Thailand (SET). The opposition People’s Party has driven the exposure of this scandal.
Undoubtedly, it has also been given impetus by a developing investigation by the Federal Bureau of Investigation (FBI) in the United States. It is understood that US authorities are briefing Thai authorities on developments, while a Thai task force is also working to investigate the extent of financial corruption emanating from illegal centres in the kingdom’s troubled borders.
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Further reading:
Kla Tham MP dismisses unproven scam centre claims about Deputy Prime Minister Thamanat Prompow
People’s Party warns Anutin of a No Confidence move over cabinet links to Cambodian scam networks
United States, South Korea and United Kingdom act against Cambodian scam industry with Thai tie-ins
Ben Smith affair & allegations of links to Cambodian scam centres continues to rage in parliament
Defiant Rangsiman Rome warns he’s not just fighting a defamation case but for the future of Thailand
Ben Smith money fixer to the elite in Thailand lines up ฿100M defamation case against Rangsiman Rome
Leader of deadly scam gang in Cambodia and henchmen still at large with 4 more Thais arrested
Police in Cambodia close in on fake scam loan app leadership after family murders in Samut Prakan
Cambodian cybercrime industry run by Chinese criminals could be generating up to 38% of its GDP
