The opposition MP spearheading scrutiny of the government’s controversial TH-AI Passport project has become entangled in legal trouble over suspicious money transfers being investigated by the Department of Special Investigation (DSI).
Pawoot Pongvitayapanu and his People's Party colleagues are under growing political pressure after the DSI disclosed that 28 million baht from a company linked to an illegal foreign exchange trading network had been transferred to his bank account.
The DSI disclosed at a June 19 press conference that the company in question made 14 transfers of 2 million baht to Pawoot’s bank account on a single day in 2024. So far, the DSI has not named him as a criminal suspect, instead seeking his cooperation in the investigation.
The press conference came just days after the DSI raided several locations in Bangkok and neighbouring provinces linked to a major forex fraud network. At least 500 victims have been identified, according to DSI director general Yutthana Praedam.
Political motive suspected
Critics suspect the DSI disclosure is a politically motivated move designed to decapitate the opposition’s probe into the Digital Economy and Society (DES) Ministry’s 1.6-billion-baht flagship project to push the adoption of artificial intelligence. TH-AI Passport has drawn criticism over its cost-effectiveness, transparency, and bidding process.
Pawoot, who serves as the shadow DES minister, insists the money transfers were returns from his gold investment. He also questioned the DSI’s claim that 2 million baht was wired 14 times to his bank account on a single day.
In a June 24 Facebook post, he denied involvement with any illegal business, whether a forex scam or pyramid scheme. The MP said he was compiling evidence, including financial documents, “as thoroughly as possible”, before meeting with the DSI.
He also distanced himself from QRS Global, the firm under DSI investigation for forex fraud, explaining he had merely opened a gold trading account with the company.
In April last year, QRS Global Pty Ltd was among 95 companies ordered to shut down by the Federal Court of Australia for involvement in “hydra-like” online scams.
The Australian Securities and Investments Commission, which took the case to court, said those companies were associated with websites and apps “involved in facilitating suspected scam activity by tricking consumers into making investments in phoney foreign exchange, digital assets or commodities trading.”
‘Icon of Thai internet’
Pawoot, 51, made his political debut this year after being elected as a list MP in February’s general election.
Known as a star of the Thai internet industry, Pawoot is a respected expert and entrepreneur in digital business and e-commerce.
He is the founder of TARAD.com, one of the country’s first e-commerce websites, launched in 2001. He went on to set up Pay Solutions Co Ltd, an online payment service provider, in 2013. He served as the chief executive of Pay Solutions and TARAD Dot Com Group, the company that runs the e-commerce website.
Pawoot was also a key investor and senior executive of multiple digital companies, including e-business solution provider Efrastructure, financial technology startup Creden.co, and cryptocurrency platform Kulap.
In 2001, he co-founded the Thai Webmaster Association and was elected its secretary-general a year later. In 2015, he co-founded the Thailand E-Payment Association.
He co-founded the Thai E-Commerce Association (THECA) in 2005, serving as its president between 2012 and 2017. He is currently THECA’s honorary president.
A digital pioneer
Pawoot earned a bachelor’s degree in architecture from Rangsit University, a master’s in internet and e-commerce from Assumption University, and an MBA from Chulalongkorn University’s Sasin Graduate Institute of Business Administration.
In 1999, a year after his graduation from Rangsit University, Pawoot and his friends launched a website that served as an online marketplace for second-hand products.
The following year, he co-founded TARAD Dot Com Co Ltd, which launched the e-marketplace website TARAD.com in 2001.
TARAD’s rapid growth caught the attention of Japanese e-commerce giant Rakuten, which in 2009 purchased a 67% stake in the largest Thai e-commerce company for $3.3 million (about 100 million baht). Seven years later, Pawoot bought back TARAD from Rakuten and in 2018, sold a 51% stake in the restructured company to TCC Group, a leading conglomerate.
With cash in hand, Pawoot started investing in digital startups and helping young entrepreneurs set up their new business ventures.
He is also a prolific writer, authoring several books and penning articles for newspapers and magazines. Among his popular titles are “Super Growth: Make Your Business Grow 200%”, “E-Commerce: How to Make Money 24/7”, and “Get Rich Quick with TARAD.com”.
