FIFA says Makudi would face an investigation by its ethics committee “should there be any evidence of any potential breach of the Code of Ethics.”
The claims first reported by a Swiss business newspaper relate to projects at the Thai soccer federation’s technical center at Nongiok, near Bangkok.
Makudi is president of the federation, which used $460,000 in FIFA funding in 2004 to build a field with artificial turf.
It received $400,000 in 2007 to build a three-story headquarters.
Makudi has previously told Thai media the land was signed over to the soccer body.