business, politics, investigation, Forex scam, TH-AI Passport, e-commerce, parliament, Department of Special Investigation, Thai politics, corporate holdings
On 18 June 2026 GMT+7, reporters covered the Ministry of Justice, where Police Lieutenant General Rutthapon Naowarat, Minister of Justice, prepared to announce a network of individuals involved in a Forex investment scam. This network reportedly includes celebrities from the entertainment industry and opposition politicians. Subsequently, rumors surfaced identifying Phawut Pongwittayapanu, a list MP from the Prachachon Party, as implicated.
Recent reports indicate that Phawut is a close associate of the party’s leadership, reportedly connected as a friend to relatives of some former party leaders before joining the Prachachon Party. Despite being new to politics, he secured a high position as number 7 on the party’s list MP candidates.
Phawut’s educational background includes a Bachelor of Architecture from Rangsit University in 1998, a Master of Science in Internet and E-Commerce (MS IEC) from ABAC University in 2001, and an Executive MBA from SASIN, the Graduate Institute of Business Administration at Chulalongkorn University, in collaboration with Northwestern University’s Kellogg School of Management and the University of Pennsylvania’s Wharton School in 2009.
His career history from 2001 to 2026 includes serving as CEO and Founder of TARAD.com Group Co., Ltd., and from 2013 to 2026, CEO and Founder of Pay Solution Co., Ltd. He is recognized as one of Thailand’s pioneering entrepreneurs in the e-commerce sector and founder of the TARAD.com website.
Prior to the 2026 general election, Phawut was recruited into the Prachachon government team, known as The Professionals, and was positioned as a candidate for Minister of Digital Economy and Society. However, after the 2026 election, the Prachachon Party lost and became the opposition, though Phawut maintained an active role in parliamentary debates.
Notably, he and his party vigorously investigated the TH-AI Passport project, valued at over 1.6 billion baht. They exposed irregularities from the drafting of the Terms of Reference, unusually rapid bidding processes suggesting abnormalities, to potential close ties between the winning private company and government officials. This matter remains under intense scrutiny by the Prachachon Party.
In business, Phawut is significant, holding shares in 36 companies, serving as director in 17 of them, with a combined share value exceeding 70.6 million baht. His portfolio spans software, family-owned real estate based in Kanchanaburi Province, and joint ventures with notable business and entertainment figures, including Chanapan Juangroongruangkit, elder sister of Thanathorn Juangroongruangkit, in a construction materials company. Examples of companies with revenues exceeding hundreds of millions baht include:
Dragon Energy Technology and Organizer Co., Ltd.
Registered on 22 June 2015, with current capital of 100 million baht, its business involves designing, installing, maintaining, and selling solar panels, wind turbines, and power-generating windmills. Located at 55/20 Covent Square Building, Room B6, Moo 7, Saothonghin, Bangyai, Nonthaburi, the sole director is Polkrit Klamkrua, holding the largest share at 87.95%, while Phawut holds 2.5%.
This company also has actors as shareholders, such as Thierry Suthiyongmekwattana (Thierry Carabao) holding 2%, Saharat Sangkapreecha (Kong Nuvo) with 1.5%, and Boromwut Hiranyatthiti (Pol. Lt. Col. Mik) with 1%. Its latest 2024 financial report shows total assets of 134,999,814 baht, total revenue of 120,392,275 baht, and net profit of 7,771,282 baht.
Leo Wood Public Company Limited
Registered on 20 March 2024, with current capital of 10.7 million baht, its business involves selling construction materials not classified elsewhere. Located at 400 Sanpawut Road, Bangna Nuea, Bangna District, Bangkok, it has five directors: Dittapong Boon-umpol, Pornsuk Rattanapitakkul, Samanchai Athiphan-ampai, Singh Athiphan-ampai, and Ampaipan Athiphan-ampai. The latest 2025 financial report shows total assets of 149,303,601 baht, total revenue of 180,124,353 baht, and a net loss of 14,042,783 baht.
This company’s largest shareholder is Samanchai Athiphan-ampai, a renowned timber and furniture businessman, holding 93.32%. Chanapan Juangroongruangkit, elder sister of Thanathorn Juangroongruangkit, holds 0.78%. Also holding 0.78% is Nattawut Pungcharoenpong, also known as Moo Ookbee or Shark Moo. Phawut holds the 21st largest share at 0.14%, with the remainder spread among individuals and other legal entities.
L.H.M. Real Estate (1992) Co., Ltd.
Registered on 26 June 1992, with current capital of 20 million baht, its business is real estate development. Located at 12/1 and 13/1 Moo 5, Thamakharm, Mueang District, Kanchanaburi Province, it has nine directors, all from the Pongwittayapanu family. Phawut holds a 2.38% stake. The latest 2025 financial report shows total assets of 713,555,802 baht, total revenue of 94,069,077 baht, and net profit of 3,834,776 baht.
L.H.M. Housing Co., Ltd.
Registered on 21 August 1992, with current capital of 30 million baht, its business is real estate development. Located at 12/1 and 13/1 Moo 5, Thamakharm, Mueang District, Kanchanaburi Province, it has nine directors from the Pongwittayapanu family. Phawut holds 2.04%. The latest 2025 financial report shows total assets of 1,013,828,583 baht, total revenue of 386,809,647 baht, and net profit of 51,455,344 baht.
Low Heng Mong Motor Co., Ltd.
Registered on 27 January 1984, with current capital of 70 million baht, its business is motorcycle sales. Located at 576-586 Sangchuto Road, Takram En, Thamaka, Kanchanaburi, it has five directors: Patcharamai Sukprasert, Pimchanok Pongwittayapanu, Worawut Pongwittayapanu, Witar Pongwittayapanu, and Anchalee Pongwittayapanu. The latest 2025 financial report shows total assets of 366,544,724 baht, total revenue of 462,994,285 baht, and net profit of 7,537,171 baht.
Other companies in which he holds shares include the following:
- 3 P M Group Co., Ltd., capital 1 million baht, a holding company for owning shares in other businesses to receive dividends.
- Satoshi Co., Ltd., capital 13 million baht, specializing in software consulting services.
- Nasaket Retail Co., Ltd., capital 5,555,600 baht, engaged in retail sales without a physical store, reported revenue exceeding 44.2 million baht in 2024.
- Ponka Asia Co., Ltd., capital 1 million baht, providing business consultancy, with 2024 revenue over 11 million baht.
- Mirage Sound Expert Co., Ltd., capital 4 million baht, selling new automotive parts and car audio equipment, with 2024 revenue over 8.2 million baht.
- Eulis International Co., Ltd., capital 1 million baht, acting as an intermediary broker for buying and selling new and used motorcycles.
- Alto Tech Global Co., Ltd., capital 1,644,500 baht, providing IT and other computer services, with 2024 revenue exceeding 23.6 million baht.
- Peppermint Asia Co., Ltd., capital 1,111,100 baht, offering online marketing consultancy and training, with 2025 revenue totaling 12,152,408 baht.
- Pets Parenting Co., Ltd., capital 4,965,500 baht, engaged in retail and wholesale of pet food, with 2024 revenue of 999,328 baht.
- Gash Network Co., Ltd., capital 3.5 million baht, providing services for trading gold on the GASH mobile platform.
Additionally, he holds shares in companies such as Gatmanh Enterprise Group Co., Ltd., capital 14,249,600 baht, engaged in investments in other companies.
- Magic Box Asia Co., Ltd., capital 19,353,145 baht, involved in human resource sourcing activities, with 2024 revenue exceeding 5.9 million baht.
- Lactic Room Co., Ltd., capital 3.4 million baht, wholesaling alcoholic beverages.
- LHM Venture Co., Ltd., capital 20 million baht, providing investment loans.
- L.H.M. Development Co., Ltd., capital 62 million baht, engaged in leasing and operations related to non-residential real estate owned or leased, reporting 2024 revenue over 4.5 million baht.
- L.H.M. Capital Co., Ltd., capital 75 million baht, providing investment loans, a company of the Pongwittayapanu family, with 2024 revenue over 56.8 million baht.
- LHM Asset Co., Ltd., capital 15 million baht, selling motorcycles, also a company of the Pongwittayapanu family, reporting 2025 revenue exceeding 1.2 million baht.
- Pomiko Co., Ltd., providing business consultancy and system development, with 2025 revenue of 9.7 million baht.
Eleven companies have been fully liquidated, including:
Comparison Co., Ltd.
Satoshi Co., Ltd.
Digital Bay Hospitality Co., Ltd.
DD Incentive International Co., Ltd.
Talad Net Co., Ltd.
Ticket Co., Ltd.
TZO Co., Ltd.
Wishwork Solution Co., Ltd.
Alto Tech Co., Ltd.
MTVC Co., Ltd.
Low Heng Mong Media Co., Ltd.
One company is defunct: Redrank Co., Ltd.
This outlines the business base of Phawut, a political figure known for his vigorous debate on the TH-AI Passport issue before rumors emerged linking him to the Forex scam case currently under investigation by the DSI. He has denied the allegations, requesting time to verify information. Updates on the cases await official statements from the relevant agencies tomorrow (19 June 2026 GMT+7).