Bangkok Post
B35 billion seized from Mauerberger network
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Thai authorities have seized and frozen assets worth 35.8 billion baht in their ongoing investigation into an alleged international money-laundering network linked to South African businessman Benjamin Mauerberger and Cambodia-born entrepreneur Yim Leak.
Key facts
- Thai authorities have seized and frozen assets worth 35.8 billion baht in their ongoing investigation into an alleged international money-laundering network linked to South African businessman Benjamin Mauerberger and Cambodia-born
- Investigators say the network moved the proceeds of criminal activity through Cambodian banks and overseas investment funds before using them to acquire major stakes in companies listed on the Stock Exchange of Thailand.
- They held over 25% without reporting their holdings or making a mandatory tender offer, potentially violating the Securities and Exchange Act, Ms Pornanong said.
- The South African businessman and his Thai wife fled Thailand in September 2025 ahead of a major police investigation and parliamentary probes into the network
- From 2019 to 2021, the network used personal accounts belonging to members and their relatives, as well as corporate accounts, to receive funds.
- In 2022 and 2023, money was transferred directly from Cambodia into accounts linked to the network in Thailand before being moved to Singapore-based investment funds.
Summary
Investigators say the network moved the proceeds of criminal activity through Cambodian banks and overseas investment funds before using them to acquire major stakes in companies listed on the Stock Exchange of Thailand.
The seized assets include about 14.8 billion baht worth of shares in companies including Bangchak Corporation, VGI and MFC Asset Management.