A Thai court has issued arrest warrants for a foreign businessman and his wife accused of a major cross-border investment fraud and money laundering.
BANGKOK: A Thai criminal court has issued arrest warrants for a foreign businessman and his wife over an alleged cross-border investment fraud and money laundering scheme. Police allege one victim was conned out of more than US$30 million (RM116.6 million).
The Central Investigation Bureau (CIB) identified the suspects as Ben Smith, also reported as South African Benjamin Mauerberger, and his wife Cattaliya Beevor. The bureau’s statement on Monday accused the pair of fraud dating back to 2016.
Smith, 47, and Beevor, 40, are accused of deceiving an unnamed foreign victim into investing in stocks, real estate, a private jet and energy businesses. The CIB said the pair built credibility until the victim “believed the schemes and transferred more than one billion baht ($31.8 million)”.
According to the CIB, Smith portrayed himself as an investment expert and promised returns up to 11%.
Authorities moved last week to confiscate assets worth more than $410 million from Smith and other individuals accused of fraud. The action was announced by Thailand’s Anti-Money Laundering Office.
Media reports have previously linked Smith to transnational scam operations in Cambodia. These are part of a multibillion-dollar illicit industry that has expanded in the region.
The “Whale Hunting” investigative newsletter reported last year that Smith once ran a “boiler room” fraud operation from Thailand. It called him a former “two-bit scammer” who became a “shadow financial kingpin”.
Caretaker Prime Minister Anutin Charnvirakul said the warrants aligned with government policy. He told reporters on Monday the crackdown on scammers and money launderers applied “regardless of who they are”.
Anutin had said in December that he knew Smith “but was not close” to him.
A legal representative for Smith, Witoon Kengngan, did not immediately reply to a request for comment on Tuesday. The Bangkok Post reported that Smith and his wife left Thailand last year, citing a senior police official.
Separately, Thai lawmaker Rangsiman Rome pleaded not guilty last week to a defamation complaint brought by Smith. The complaint, for over $3 million, relates to remarks the recently re-elected MP made to parliament and media.
Rangsiman’s lawyer Nithi Laieddee confirmed the plea to AFP. Smith’s legal adviser Witoon told reporters last week that Rangsiman had accused Smith “of being a scammer”.
The Sun Malaysia
