Calls are mounting for a thorough probe following the abrupt resignation of Vorapak Tanyawong as deputy finance minister on Wednesday amid allegations linking him to a transnational scam network in Cambodia, which he has strongly denied.
The controversy stems from an investigative report by journalist Tom Wright on the Whale Hunting blog, linking Mr Vorapak, his wife and other entities to online scam operations. The allegations connecting Mr Vorapak to BIC Bank in Cambodia, founded by controversial Cambodian businessman Yim Leak, only lead to more questions.
On Wednesday, Mr Vorapak decided to resign, saying the move is to prevent personal matters from affecting the cabinet’s work. He insisted that he has “no involvement whatsoever” with any criminal group or fraudulent activity.
Soon after his resignation, Whale Hunting released an 84-page document claiming that it is from Singapore and showing that Mr Vorapak’s wife had been transferred more than 2.9 million in USDT cryptocurrency.
Rukchanok Srinork, a Bangkok MP for the opposition People’s Party, on Facebook, said that resignation alone was “not the end of the matter” and called on Prime Minister Anutin Charnvirakul to instruct the Anti-Money Laundering Office and the Securities and Exchange Commission (SEC) to verify the facts quickly. “If [Mr Vorapak] is guilty, action must be taken. If he is innocent, he should be cleared without delay,” she wrote.
Mr Vorapak has denied any formal or financial links with BIC Bank Cambodia or its affiliates, saying he has only met its chairman, Leak Yim, but never served as a director, adviser or shareholder. As for his 29% stake in Finansia Syrus Securities, held via Pilgrim Finansa, he said that it was part of a lawful management buyout in 2021 conducted in accordance with the rules of the Stock Exchange of Thailand and the SEC.
The allegations against Mr Vorapak gained further traction after financial analyst Sarinee Achavanuntakul reposted on social media details from Whale Hunting, claiming Singaporean documents showed Tether (USDT) transfers to the wives of both Mr Vorapak and another businessman. Ms Sarinee urged the SEC to coordinate with Singapore’s Monetary Authority (MAS) to obtain the evidence.
Commenting under the post, Mr Vorapak invited Ms Sarinee to publicly present any documents supporting her claims and offered to meet in person. “If you have evidence, please show it. My wife and I have never received any Tether payments,” he wrote, stressing that spreading unverified claims had damaged his reputation. He added that his life was “open for scrutiny”, noting that he had “nothing to hide”.
Ms Sarinee replied, saying that meeting privately would not serve the public interest, saying that Mr Vorapak should instead clarify the matter through official channels and cooperate with investigations by the SEC and MAS.