Following the arrest of Boss Paul and the “The Icon” network, criminologists identified five behavioral patterns linking to the case, suggesting premeditated actions to mitigate criminal punishment and hinting at further arrest warrants targeting those behind the network.
On October 18, 2024, Pol. Lt. Gen. Suwat Sangnum directed the investigative team to transfer Mr. Waratpon Waratyawarakul, also known as Boss Paul, the head of “The Icon Group,” from custody to the criminal court.
The “The Icon” case has drawn significant attention following the arrest of Boss Paul and 18 associates. Former criminology professor Dr. Thanat Surasak pointed out several phenomena observed in the case.
1. The arrested bosses may have conspired in advance to lessen the severity of their actions. This involves economic crimes, particularly in Ponzi schemes, with a significant number of victims and high financial damage.
2. The police acted quickly due to the potential for immediate criminal charges related to fraud, enabling them to seize assets rapidly. Additional charges related to Ponzi schemes may be forthcoming based on ongoing investigations.
“The prompt arrest is due to the urgency of prosecuting the fraudulent actions, rather than waiting for extensive evidence about the Ponzi aspect, which could complicate arrests,” Dr. Thanat noted.
3. Investigations related to Ponzi schemes will require time due to the network structure of The Icon’s business. Legal issues will arise if selling products is absent, characterizing the operation as a Ponzi scheme instead.
4. Additional warrants for arrests are anticipated as investigations continue to uncover more individuals involved in the network who may have participated in recruitment without tangible products.
“Boss Paul is likely to be prosecuted for fraud and providing false information under the Computer Crime Act. If tied to a Ponzi scheme, charges could multiply. The chances for these bosses to evade consequences appear slim,” he added.
5. The process of compensating victims will likely be challenging since many were drawn by celebrity endorsements and the allure of high returns, leading to risky investments. Public caution is advised before making any investment decisions.
This article was rewritten from a Thairath’s news article.
