Thailand auctions US$18 million superyacht linked to supersized fraud

AI Summary

Thailand is auctioning an $18 million luxury superyacht seized from fugitive financier Benjamin Mauerberger linked to a major fraud and money laundering scheme. Authorities aim to recover funds connected to a fraudulent investment operation dating back to 2016.

A luxury superyacht seized from fugitive financier Benjamin Mauerberger is due for auction at a starting price of US$18 million on Tuesday, as authorities seek to claw back money from powerful money laundering networks across Thailand. Mauerberger and his wife, Cattaliya Beevor, are wanted by Thai police on fraud and money laundering charges, linked to what prosecutors allege was a bogus investment scheme stretching back to 2016. The highly connected South African businessman is also believed to...