Thai cops now hunt fugitive South African financier “Ben Smith” over ฿1bn fraud as six raids hit Bangkok. Warrants issued, 13 items seized, and ฿13bn frozen. PM vows no one is above the law while the suspect is presently believed to be in Dubai.
On Thursday, the Central Investigation Bureau (CIB) of the Royal Thai Police secured arrest warrants for financier Benjamin Mauerberger and his wife. The move follows months of speculation tying the South African to Cambodian grey capital networks. The case was initiated by the Anti-Money Laundering Office (AMLO) and centres on cross-border links with Cambodia. On Monday, Prime Minister Anutin Charnvirakul gave unequivocal backing to the police action.
The Royal Thai Police last week moved decisively against South African financier Benjamin Mauerberger, also known as Ben Smith, and his Thai wife. Specifically, officers from the Central Investigation Bureau sought and obtained arrest warrants from the Criminal Court. The court approved the warrants last Thursday.
Subsequently, coordinated searches were executed at six locations on Monday across Bangkok and several central provinces.
During those operations, officers entered residential and company-linked premises. Meanwhile, investigators seized 13 items for evidentiary review. At the same time, six individuals were present at the targeted properties. However, none of those individuals has been formally charged. Nevertheless, police suspect some were involved in transferring funds from victims.
Fraud and money laundering warrants issued over alleged 2016 investment scheme losses
According to Pol Lt Gen Natthasak Chaowanasai, chief of the Central Investigation Bureau, investigators gathered sufficient evidence before approaching the court.
As a result, arrest warrants were issued on charges of fraud and money laundering. In total, authorities allege damages of about 1 billion baht in the criminal case. Importantly, the alleged offences date back to 2016.
At that time, investigators say Mr Mauerberger and his wife solicited investments from foreign businesspeople. Specifically, victims were persuaded to fund several ventures presented as legitimate opportunities.
These included real estate stocks, a private jet leasing scheme, and an energy investment. In detail, 700 million baht was invested in now-delisted Pace Development real estate shares. Additionally, 255 million baht was directed toward the purchase of a private jet intended for leasing. Furthermore, 126 million baht was invested in a power plant project. Altogether, police allege the ventures caused losses exceeding 1 billion baht.
Suspect believed in Dubai as police probe regional links to Cambodian financial networks
Currently, Mr Mauerberger, 47, is believed to be outside Thailand. According to multiple reports cited by police, he left his Bangkok base last September. He is now reportedly in Dubai. Consequently, the arrest warrants remain outstanding. However, authorities have not disclosed whether international coordination has been formally initiated.
Pol Lt Col Arthirat Thipcharoen, chief of Division 3 at the Crime Suppression Division, confirmed operational details. He said the couple left Thailand last year. Notably, their departure followed the collapse of financial empires linked to Cambodian businessman Yim Leak and Chinese-Cambodian businessman Chen Zhi.
Chen Zhi founded the US-sanctioned Prince Group. Therefore, investigators are examining broader regional financial links.
Separately, the Anti-Money Laundering Office had already moved against assets linked to Mr Mauerberger and his network. Days before the latest raids, AMLO’s Transactions Committee issued a temporary freeze order.
Civil court freezes 13 billion baht in assets across four linked scam network cases
The order covered more than 13 billion baht in assets across four scam network cases. Subsequently, on February 11, 2026, a resolution was passed to forward the matter to public prosecutors. Prosecutors were asked to petition the Civil Court to maintain the seizure.
Then, on February 27, 2026, the Civil Court ordered the temporary seizure and freezing of the assets. The order was issued under Section 55 of the Anti-Money Laundering Act B.E. 2542. Accordingly, the freeze remains in place pending further court rulings.
In addition, the AMLO Secretary-General has been authorised to oversee the preservation of the assets. Notifications have been sent to concerned parties.
Importantly, police clarified that the charges announced this week relate to another, separate case. Therefore, the criminal case involving alleged 2016 fraud is distinct from the network asset seizures. Nevertheless, investigators are analysing links between the cases. Moreover, coordination between the police and AMLO is ongoing to pursue predicate offences connected to money laundering.
CIB confirms cross-border fraud case as Cambodia shuts scam centres across the region
On March 2, 2026, the Central Investigation Bureau publicly confirmed the warrants on its official Facebook page. In that statement, the bureau said it had clear evidence of cross-border investment fraud. It identified Ben Smith as Benjamin Bauerberger.
Furthermore, it confirmed that six searches had been conducted and evidence seized. The bureau added that the investigation would continue to expand.
Meanwhile, the case unfolds against a broader regional crackdown on scam networks. In recent weeks, Cambodian authorities have expelled thousands of foreigners believed to be working in scam centres. Those centres are being shuttered across the country. Consequently, cross-border financial crime has moved to the forefront of enforcement priorities in the region.
Prime Minister backs crackdown and dismisses political fallout from arrest warrants
Domestically, the case has also carried political implications. On March 2, 2026, Prime Minister and Interior Minister Anutin Charnvirakul addressed reporters at Government House at 4:15 pm.
Initially, he said he had just received news of the arrest warrants. He stated that he would review the details further. Nevertheless, he confirmed that police investigations were ongoing under established government policy.
Specifically, Mr Anutin described the warrants as part of a policy to crack down on scammers, illicit funds, call centres and money laundering. Therefore, he said, the issuance of the arrest warrant for Ben Smith aligned with that policy.
Moreover, he stressed that he would not interfere in the investigative process. He said he wished to avoid any accusation of interference. Instead, he issued a direct message. “Anyone who breaks the law will not be spared, no matter who they are,” he said.
Additionally, the Prime Minister referred to a directive to “keep names secret, but behaviour speaks for itself.” He acknowledged that it is not yet clear who did what. However, he stated that any illegal act causing public distress or economic damage would be prosecuted.
When asked whether coordination with Interpol was necessary, he said he had not examined those details. Furthermore, he added that there was no need to give special importance to anyone.
Government insists nothing above the law as agencies coordinate anti-scam enforcement drive
He emphasised that the government has a clear policy to address economic, social, and security damage. He said the public has suffered from scammers, fraud, money laundering, and call centres.
Therefore, agencies must address these problems at their root causes. Importantly, he noted that courts had already frozen assets of both foreigners and Thais involved in economic crimes.
Moreover, he said AMLO had been working on these cases before the court orders were issued. As a result, he said officials now have greater confidence in apprehending suspects. He added that enforcement efforts are being accepted as fair and increasingly stringent. “This demonstrates that nothing is above the law,” he said. He also stated that the government does not side with lawbreakers.
Reporters asked about database integration in the fight against scammers. In response, Mr Anutin said relevant agencies were performing to the best of their ability. He confirmed that AMLO is working with the police, the National Anti-Corruption Commission, the Bank of Thailand, and the Ministry of Finance. Consequently, he said these agencies are operating as a coordinated team with experts participating in committees.
Thamanat denies links to Ben Smith case as wider probes continue into regional networks
When asked whether politicians or prominent figures were involved in transnational crime, Mr Anutin declined to provide specifics. Nevertheless, he reiterated that he would not interfere in investigations.
Subsequently, reporters pressed him on potential political repercussions, citing links between party leaders and Ben Smith. In response, he said, “I don’t really care.” When further questioned about the impact on government formation, he said there was no problem. He added that public suffering and national damage were more important than political considerations.
Separately, Deputy Prime Minister and caretaker Agriculture Minister Thamanat Prompow addressed the case the same day. He was questioned about the arrest warrants for Ben Smith and his wife.
He stated that the alleged offences occurred before he knew Mr Smith. Therefore, he denied any link or involvement with the alleged wrongdoing. He said the case originated before their acquaintance.
Thamanat says the case predates his acquaintance with Smith. Dismisses rumours about ministry official
When asked about rumours that a senior Agriculture Ministry official was involved, he responded briefly. “What does that have to do with anything?” he said. Immediately afterwards, he entered his car and closed the door.
For now, arrest warrants remain active for Benjamin Mauerberger, also known as Ben Smith, and his wife. Six locations have been searched. Thirteen items have been seized. More than 13 billion baht in assets remain frozen under court order. Meanwhile, investigators continue to expand the case across financial, corporate, and cross-border dimensions.
Money laundering moves in cases linked to Cambodia including cases tied to Ben Smith and Chen Zhi
Rangsiman Rome defamation case deferred until May 2027. Criticism of scam case prosecutions by police
Earlier, Mr Benjamin Mauerberger and his associates stated his innocence of any wrongdoing. The financial whizz kid, also known as Mr Ben Smith, has a large network of acquaintances in Bangkok at the highest levels of government and business circles.
In particular, many of his supporters have pointed to the ability of the financial guru to attract investment and capital to Thailand. The South African was especially well known for the provision of private jet solutions to the kingdom’s wealthy over the years. His clients included many high-profile politicians such as former Prime Minister Thaksin Shinawatra and Deputy Prime Minister Suriya Jungrungruangkit.
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Further reading:
Money laundering moves in cases linked to Cambodia including cases tied to Ben Smith and Chen Zhi
Former cabinet minister and Pheu Thai highflyer clarifies Ben Smith and luxury Gulfstream jet story
PM Paetongtarn suspended from duties while Deputy Prime Minister Suriya Jungrungruangkit takes power
