Thai Court Issues Arrest Warrant in 1 Billion Baht Investment Scam
Thai Court Issues Arrest Warrant in 1 Billion Baht Investment Scam
BANGKOK, March 2, 2026 — Thailand’s Criminal Court has issued arrest warrants for a foreign national and his wife over an alleged cross-border investment fraud that investigators say caused losses exceeding 1 billion baht ($27 million).
The Central Investigation Bureau (CIB) said the court on Feb. 26 approved warrants for Ben Smith, also known as Benjamin Mauerberger, and Katriya Beaver on charges including joint fraud, conspiracy to commit money laundering and money laundering.
Police said the case dates back to 2016, when a foreign investor seeking business opportunities in Thailand was introduced to Mauerberger, who allegedly presented himself as a stock market specialist.
Investigators allege the victim was persuaded to invest heavily in ventures including shares in property developer PACE Development Corporation, real estate projects, a proposed private jet purchase and an energy project purportedly linked to the Electricity Generating Authority of Thailand.
Authorities said the suspects allegedly used written profit guarantees, post-dated cheques and claims of high-level connections to gain trust before soliciting additional funds. The projects allegedly failed to proceed as promised, with funds believed to have been diverted.
In separate civil proceedings, courts have frozen billions of baht in assets linked to networks in which Mauerberger was allegedly involved. Some assets were previously seized under anti-money laundering laws.
Police said searches were conducted at six locations in central Thailand, where officers seized computers, mobile phones and financial records. The investigation remains ongoing.
