Dems probe forex network, gambling ties

Democrat MPs have disclosed alleged wider links between online gambling networks and Forex scams, calling on authorities to investigate the financial trails.

Democrat Party deputy leader and party-list MP Chaichana Dechdecho said on Sunday he had obtained additional information following earlier disclosures about a well-known restaurant in Pathum Thani that allegedly acted as a payment intermediary, or payment gateway, for online gambling websites.

Mr Chaichana said a forex investment network uncovered in a June 16 DSI operation was believed to be linked to a gambling website, with information tying it to a Forex scheme and groups of online scammers under scrutiny by several agencies.

He urged authorities to investigate and said he would submit the information to the House Committee on Police Affairs and the House Committee on the Prevention and Suppression of Money Laundering and Narcotics to expand probes into financial routes and associated networks.

Intelligence suggests the network is also linked to a large restaurant business in the Thon Buri area, with suspected financial flows connected to online gambling proceeds.

Separately, Pitakdet Dechdecho, Nakhon Si Thammarat MP and chairman of the House Committee on the Prevention and Suppression of Money Laundering and Narcotics, said the panel would tackle illegal Forex operations by opening a channel for victims to submit complaints and evidence.

Mr Pitakdet said many people are still falling victim to online investment schemes, particularly Forex ventures promising unusually high returns, which often amount to fraud, causing widespread losses and undermining public confidence.

The committee will gather information from victims, coordinate with the Department of Special Investigation (DSI) and the Anti-Money Laundering Office (Amlo), while pursuing measures against financial fraud and money-laundering networks.

The move follows a DSI operation on June 16 targeting an alleged illegal Forex investment network.

Authorities searched 24 locations in five provinces, seizing 65 million baht in cash, five supercars and other assets.

Investigators said 77 bank accounts had been frozen and assets worth large sums seized. The network may involve politicians and entertainment figures, although some suggested.