People’s Party MP rejects Forex scam allegations

People’s Party MP Pawoot Pongvitayapanu said today that he has no connection to an alleged Forex investment fraud network, following media reports that his name had surfaced in an ongoing probe by the Department of Special Investigation (DSI).

The denial came amid reports that Justice Minister Rutthapon Naowarat is preparing to unveil a list of suspects allegedly linked to an unlicensed foreign exchange trading and investment scheme.

During an interview on a television news programme, Pawoot said he had nothing to do with the illegal network, adding, "Let's wait and see whether there is a warrant first."

During a television interview, Pawoot said he had nothing to do with the illegal network, adding, "Let's wait and see whether there is a warrant first."

Pawoot, a first-term MP and former technology entrepreneur, has recently emerged as one of the most vocal critics of Digital Economy and Society Minister Chaichanok Chidchob over the government's controversial ‘Thai AI’ project.

He has questioned the project's transparency, procurement process and technical feasibility, calling for greater public scrutiny of the initiative.

Police said hundreds of victims were allegedly lured into investing in foreign exchange trading through various applications and websites linked to several corporate entities.

They were promised high returns and initially received regular payouts, encouraging them to invest more.

A joint operation, involving the Justice Ministry, the DSI, the Cyber Crime Investigation Bureau and the Bank of Thailand, dubbed "Operation Shutdown the Laundering", recently raided 24 locations across the country, seizing assets worth more than 65 million baht and freezing numerous bank accounts.

According to reports, one of the politicians under scrutiny is a member of an opposition party. Rumours circulating on Thursday singled out Pawoot as one of the political figures being investigated.