An executive of a brokerage firm provided information to the Department of Special Investigation (DSI) in the FOREX case to demonstrate good faith after being linked to Phawut. Officials are awaiting the compilation of evidence and plan to upgrade the case to a special pyramid scheme investigation.
At the Department of Special Investigation on 23 Jun 2026 GMT+7, reporters learned that Mallika Maksalud, executive and director of QRS Education Co., Ltd. (the operator of QRS Global in Thailand), met with DSI investigators on 22 Jun 2026 GMT+7 to show good faith to authorities.
Mallika’s meeting with DSI was due to investigative reports identifying QRS Global Co., Ltd. as one of four brokerage firms involved financially and relationally with lawmaker Phawut Pongvitayapanu of the People's Party. The company is also linked to a mysterious man acting as an introducing broker (IB), who is closely connected to Phawut, including traveling together to France and attending seminars. This IB is connected financially to ALPFX, a company that transferred initial funds to Spark Digital Co., Ltd., which then transferred money into Phawut’s personal bank account on 18 Jul 2026 GMT+7. There were 14 transfers of 2 million baht each, totaling 28 million baht on the same day.
Reports indicate that during this week, company directors from brokerage firms and some IB representatives have gradually come forward to provide information to the DSI. They explained their company roles, trading advice, investor support, and clarified financial links among several companies, especially connections among IB groups, brokerage firms, and payment companies.
Recently, lawmaker Phawut Pongvitayapanu and Ratthapoom Tokongsap, a famous actor known as Film, who are linked financially to brokerage and payment companies, have not yet contacted the DSI to provide witness statements. Meanwhile, progress on submitting the FOREX investment fraud investigation for elevation to a special pyramid scheme case is ongoing. The DSI is still compiling evidence from multiple witness groups, so it is uncertain whether the process will conclude this week.