DSI investigators will question People’s Party MP Pawut Pongwitayaphanu over a ฿28 million transfer as a sweeping forex fraud probe deepens. The elite police inquiry now spans 70,000 transactions, 24 raids and nearly 100 victims, with wider financial and corporate links under scrutiny.
The Department of Special Investigation is widening a sweeping foreign exchange fraud investigation, with People’s Party MP Pawut Pongwitayaphanu due to be questioned over a ฿28 million transfer into his bank account and his business links. Although Pawut has been summoned only as a witness and denies any wrongdoing, the inquiry already spans up to 70,000 financial transactions, 24 coordinated raids and nearly 100 alleged victims. Investigators are examining possible computer crime, securities and public fraud offences, while the politically sensitive case also raises wider questions about Thailand’s booming forex trading craze.
The Department of Special Investigation (DSI) will question People’s Party list MP Pawut on July 2 as part of Thailand’s biggest foreign exchange fraud investigation. Investigators traced ฿28 million transferred into his personal bank account in a single day.
However, the opposition politician has been summoned as a witness, not a suspect. The DSI stresses that no criminal charges have been filed against anyone called to give evidence.
The hearing follows a rapidly expanding inquiry into an alleged forex investment network. Investigators are examining investment advisers, brokerage firms and payment companies believed to have played different roles in the operation.
DSI to examine ฿28 million transferred to Pawut and test his gold trading explanation against financial records
According to the DSI, financial records show Spark Digital Co., Ltd. transferred ฿28 million into Mr Pawut’s personal account on July 18, 2024. The money arrived through 14 separate transfers worth ฿2 million each.
The agency says the interview will focus on establishing the source and purpose of those payments. Mr Pawut has consistently maintained that the money came from legitimate gold trading. He says it has no connection with any foreign exchange investment scheme.
Accordingly, investigators will ask him to submit supporting evidence. This includes records of gold transactions, details of the companies involved and trading timelines. They will also seek payment records and evidence of any investment returns.
Those documents will then be compared with financial evidence already obtained during the investigation. Investigators say the exercise is intended to verify the accuracy of every financial transaction.
Separately, the DSI will question Mr Pawut about his previous corporate interests. Officials want clarification regarding his former positions as a director or shareholder in companies appearing on the agency’s financial investigation chart.
Investigators expand scrutiny to company links and QRS Global investment promotion video under Thai law
Those businesses are linked to investment advisers, brokerage firms and payment companies now under investigation. Investigators are seeking to establish the precise nature of those relationships.
In addition, officers are examining a promotional investment video involving QRS Global. The inquiry will determine whether the material amounted to investment promotion under Thai law.
The video forms part of the broader evidence collected during the investigation. Officials are examining whether it played any role in encouraging members of the public to invest.
Mr Pawut has repeatedly denied any wrongdoing. He insists he neither promoted investments nor participated in fraudulent activity. He has also pledged to cooperate fully with investigators.
Meanwhile, the DSI has also summoned actor Rattapoom Tokongsap, known as “Film”, to give evidence as a witness. Investigators say they identified financial transactions linking him to two brokerage firms under investigation.
Like Mr Pawut, Mr Rattapoom remains a witness. He has not been charged with any offence. The DSI says he may request an earlier interview or seek a postponement if necessary.
DSI widens witness interviews as victims provide evidence on alleged forex investment network operations
Notably, investigators emphasise that every individual summoned so far holds witness status. No suspects have yet been formally identified. Likewise, no criminal charges have been filed against anyone connected with the inquiry.
At the same time, investigators continue interviewing alleged victims across the country. The effort accelerated after the DSI invited submissions through its official Facebook page.
So far, nearly 100 victims have provided information. Their statements cover investment methods, financial losses, solicitation techniques and foreign exchange trading practices.
As part of this process, investigators are comparing victim testimony with financial records and electronic evidence. The information is helping reconstruct how the alleged investment operation functioned.
The inquiry continues to focus on three principal groups. These comprise investment advisers, commonly known as introducing brokers or IBs, brokerage firms and payment companies.
Once investigators complete their review of documentary evidence, additional witnesses will be summoned. The DSI says further interviews will proceed gradually as new evidence emerges.
Computer Crime Act investigation may expand into securities, derivatives and public fraud offences
From a legal standpoint, the investigation currently proceeds under Thailand’s Computer Crime Act B.E. 2550 (2007). The DSI accepted the matter as a special case using that legislation as its initial legal basis.
Even so, investigators say further offences may be added if additional evidence is uncovered. Any decision will depend entirely on the facts established during the inquiry.
Potential offences include breaches of the Fraudulent Public Lending Act of 1984. Investigators are also examining possible violations of the Securities and Exchange Act and the Derivatives Trading Act.
In parallel, officials are considering whether the evidence could support allegations of public fraud under Thailand’s Criminal Code. No decision has yet been made.
Corporate records have also become an important part of the investigation. Information obtained from the Department of Business Development shows Pay Solution Co., Ltd. listed Mr Pawut as the holder of one share between 2020 and 2025.
Department of Business Development records reveal past Pawut shareholding in Pay Solution Co., Ltd.
His name no longer appears on the company’s shareholder register. Nevertheless, companies in which he still holds shares continue to participate in Pay Solution Co., Ltd.
Investigators say those corporate links will receive detailed scrutiny. The DSI insists every connection will be examined objectively and fairly.
The investigation has already become one of the largest financial crime inquiries undertaken by the DSI. Officers have reviewed between 60,000 and 70,000 financial transactions.
In addition, investigators have collected evidence during 24 coordinated search operations. The material now forms the core of the agency’s financial analysis.
The scale of the inquiry reflects the DSI’s specialised role within Thailand’s justice system. The agency was established on October 3, 2002, under the Ministry of Justice.
Its creation recognised that some criminal investigations exceed the resources of the Royal Thai Police. Consequently, the DSI focuses on cases requiring specialist expertise and extensive financial analysis.
DSI was established to investigate complex national crimes beyond the resources of the Royal Thai Police
Its responsibilities include organised crime, financial fraud, cybercrime, corruption and money laundering. The department also investigates procurement fraud, human trafficking, transnational criminal networks and offences affecting national security.
Unlike conventional police units, the DSI investigates only matters formally designated as special cases. Those cases usually involve significant financial losses or sophisticated criminal organisations.
Many also involve cross-border activity or complex financial structures. Consequently, investigations frequently require forensic accounting and specialist investigative techniques.
Over the past two decades, the department has established specialist bureaus covering financial crime, illegal financial businesses and cybercrime. Other divisions investigate procurement fraud, tax offences, consumer protection and human trafficking.
Specialist DSI bureaus investigate financial crime, cybercrime and cross-border criminal networks
The agency also maintains tactical operational teams for high-risk warrants and arrests. Those units support investigations requiring specialist enforcement capabilities.
Financial crime has become one of the department’s fastest-growing responsibilities. As a result, the DSI regularly investigates Ponzi schemes, investment fraud, illegal foreign exchange businesses and cryptocurrency scams.
Investigators also target electronic payment systems operating outside Thailand’s regulatory framework. Such inquiries often involve extremely large volumes of financial data.
For that reason, the DSI works closely with the Anti-Money Laundering Office (AMLO), the Securities and Exchange Commission (SEC), commercial banks and overseas law enforcement agencies.
Director-General Yutthana Praedam leads a widening crackdown on illegal forex and online investment firms
The department is led by Director-General Police Major Yutthana Praedam. Under his leadership, investigators have intensified action against illegal online financial businesses and unlicensed foreign exchange operations.
That strategy follows increasing reports of substantial losses suffered by retail investors. Officials say many victims were drawn into unlicensed online investment platforms.
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Against that backdrop, the Justice Ministry describes the current inquiry as one of Thailand’s largest foreign exchange fraud investigations. The case remains at the evidence-gathering stage.
Investigators continue analysing financial records, corporate structures, payment systems and promotional activities. They are also expanding witness interviews and tracing additional financial transactions.
Ultimately, the DSI says any decision on criminal charges will depend solely on the available evidence. Until then, the investigation remains focused on establishing the complete facts behind the alleged investment network.
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