BANGKOK, Oct 18 (Reuters) - Thailand's Election Commission will launch an investigation into the ruling Pheu Thai party that could lead to its dissolution, multiple local media outlets reported on Friday.

The Election Commission has set up a committee to look into complaints against the party that alleged it allowed former Prime Minister Thaksin Shinawatra to influence or direct party activities, media reported, citing unidentified sources.

The probe into Pheu Thai comes months after Move Forward - the country's former main opposition party that won last year's election - was dissolved by court order in August, following an investigation by the Election Commission.

Thaksin returned to Thailand last year in a dramatic homecoming after 15 years in self-exile, the same day his political ally Srettha Thavisin became prime minister.

In August, Thaksin's daughter Paetongtarn Shinawatra, 38, became premier after the Constitutional Court removed Srettha from office.

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