Police Dismantle Global Money Laundering Ring, Seize 35 Billion Baht
The user wants a short summary (1-2 sentences, 120-220 characters, max 240) for a news article about police dismantling a global money laundering ring. The summary must be in English only, factual, no filler, lead with what happened then th
The Central Investigation Bureau's Anti-Online Scam Center, under Pol. Lt. Gen. Itthiphol Atchariyapradit and Pol. Maj. Gen. Jiraphop Phuridet, alongside SEC Secretary-General Dr. Pornnarong Busaratrakul and AMLO officials, announced the takedown of a transnational money laundering syndicate headed by Ben Smith (Benjamin Mauerberger), 48, and Cambodian national Yim Leak, 40. Investigators traced a complex financial trail where proceeds of crime were moved through multiple layers of foreign banks and funds, then re-entered Thailand disguised as foreign investment to acquire major shareholdings in SET-listed companies.
Pol. Maj. Gen. Thasaphum Charuphrachaya said Ben Smith has a history of fraud abroad, including a seven-year ban from securities broking in New Zealand and an Interpol red notice after defrauding foreign investors in Thailand in 2016. He and Yim Leak later established B.I.C. Bank in Cambodia, which became a key conduit for the network.
Seven suspects were identified with distinct roles: Ben Smith as mastermind; Yim Leak controlling banks and funds; two women acting as nominees; a Singapore-based fund manager structuring investors and money sources; and two coordinators handling funds, investors and documents. Six suspects remain at large overseas; one, Nathakorn, has already been prosecuted.
The operation unfolded in two phases: 2013–2021 used personal, family and corporate accounts (including those of Smith's wife, who had not filed taxes since 2015) to launder money despite minimal legitimate income; 2022–2023 saw a shift to new account structures and methods.
