Pavuth denies Forex-3D links as DSI probe deepens
MP Pavuth Pongvithayapanu denies involvement in Forex-3D fraud probe, insisting he was only a trader as DSI reviews records.
MP denies Forex-3D links, says he is just trader
MP Pavuth Pongvithayapanu has insisted he is innocent in connection with the Forex-3D case, rejecting any links to scam-related activity and maintaining that he was “just a trader” as he reappeared in Parliament under the shadow of an ongoing investigation.
Speaking after attending a meeting of the House Committee on Communications, Telecommunications and Digital Economy and Society, the list-MP of the People’s Party said he had never persuaded anyone to invest in forex schemes, Ponzi operations or any transnational criminal activity.
His appearance marked his first public engagement in a week following reports that the Department of Special Investigation (DSI) had identified him as a suspect in a forex investment fraud network probe.
“I am just a trader,” MP tells reporters
Pavuth firmly denied wrongdoing, stressing that his past involvement in trading had been misinterpreted in media reports.
He said he was reviewing extensive personal financial records, including bank transactions across multiple accounts, in preparation for engagement with investigators.
However, he noted that retrieving full transaction histories dating back several years had proven difficult, with some banks requiring processing through head offices.
“I was like, what is happening to me?” he said, adding that he had never previously been labelled a suspect.
Financial records still incomplete
Pavuth said he still did not have complete documentation from all financial institutions, and therefore had not yet formally engaged with investigators.
He referred to reported transfers totalling 28 million baht across 14 transactions, saying he could not fully verify the figures until all bank data was available.
He also questioned whether alleged decimal discrepancies in trading records could explain the figures, saying he needed to cross-check information with the DSI.
Despite this, he maintained that initial reviews suggested the activity was consistent with ordinary trading behaviour.
“I stopped trading after losses”
The MP confirmed that he had not been actively trading for some time, saying he had incurred losses in the past.
When asked to speculate on the origin of the funds under scrutiny, he declined, insisting he would wait until all financial information was complete before making further statements.
He reiterated that trading activity was widespread in Thailand, while also suggesting that regulatory gaps may exist in online brokerage operations, particularly involving unlicensed platforms.
Promotional video and QRS Global reference
Questions were also raised over a promotional video linked to QRS Global, one of four forex brokers, in which he appeared discussing reward points and a trip to France.
Pavuth said the clip was recorded during a training period and formed part of a personal learning experience, not an invitation for investment.
He insisted he had never encouraged the public to invest.
“I never said everyone should come and trade,” he said, adding that the rewards system was similar to retail loyalty points and that many participants were interviewed in the same session.
No resignation plan despite pressure
The MP dismissed speculation that he would resign from the People’s Party, confirming he remained in the party and had no intention of evading the investigation process.
He said any decision regarding resignation would depend on future developments, including whether formal charges were filed.
At present, he stressed that he remained only a suspect and continued to carry out his parliamentary duties.
He also denied allegations linking his business history to companies associated with political figures, stating that such claims would be addressed directly with investigators.
Forex-3D Ponzi scandal
The Forex-3D scandal is widely regarded as one of Thailand’s largest and most damaging Ponzi schemes, involving nearly 10,000 victims and estimated losses of around 2.5 billion baht (over US$70 million).
Launched around 2015 by Apirak Kothi, the scheme operated through the website www.forex-3d.com and was aggressively promoted across social media as an elite, AI-driven foreign currency trading platform.
It claimed to use professional traders and proprietary algorithms capable of guaranteeing full capital protection alongside monthly returns of 10–15%.
To attract investors, Forex-3D introduced a tiered “Class” system based on deposit size, initially requiring about 15,000 baht to enter before later increasing the threshold to around 50,000 baht.
The case has since become a benchmark example of high-yield investment fraud in Thailand, with investigations continuing into associated networks and individuals.
