Arrest warrants have been issued for Mr Ben Smith, also known as Benjamin Mauerberger and his wife Ms Katriya Beaver on charges of transnational investment fraud and money laundering, with alleged losses exceeding 1 billion baht. The warrants were approved on March 2 following an investigation by The Central Investigation Bureau (CIB). Authorities also executed search warrants at six locations in the central region on February 27, seizing electronic devices and financial documents as evidence.
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According to investigators, Ben Smith is a foreign businessman classified by the United States as a high-risk individual linked to international scams and money laundering. Katriya Beaver is described as a major shareholder in several Thai listed companies, particularly Bangchak Corporation Plc (BCP). In December 2025, authorities seized and froze Katriya’s assets under money laundering laws.
Police allege the scheme began in early 2016 when foreign investors seeking to expand in Thailand were introduced to Smith, who presented himself as an expert adviser on Thai stock market investments. Initially, he introduced investors to QTC Energy Plc, described as a genuine investment, which reportedly helped build trust. Investigators say he later persuaded victims to invest 700 million baht in Pace shares, supported by loan agreements and cheques guaranteeing returns of 7% and 11%, totalling more than 762 million baht.
Katriya was appointed to manage the investment for over a year. During that time, Smith and associates reportedly travelled abroad to visit projects and encouraged investors to purchase a private jet for 255 million baht for rental and personal use. Police allege that 21 million baht in deposits was pocketed.
Investigators further allege that Smith persuaded investors to channel 126 million baht into a proposed partnership with the Electricity Generating Authority of Thailand (EGAT). When concerns arose over the Pace shares, a member of Smith’s network allegedly offered a 144 million baht deposit for seven condominium units with built-in furniture, promising higher returns than originally agreed. By 2022, the units had not been delivered and were later found to have been transferred to other individuals.
Thainewsroom reported that searches conducted on February 27 resulted in the seizure of two desktop computers, one notebook, two laptop computers, one MacBook, two iPads, five mobile phones, two Kingston flash drives, financial statements, daily payment records and company seals. Authorities said these items are being examined as part of the ongoing investigation. Further inquiries are under way as officials work to trace assets and determine whether additional offences were committed.
Pictures courtesy of TNR
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Adapted by ASEAN Now Thainewsroom 3 Mar 2026
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