The Anti-Money Laundering Office (AMLO) has ordered the seizure of assets belonging to “The Icon Group Company” and four individuals, including Paul and Kant, warning against transferring, receiving, or altering the status of said assets.
On October 15, 2024, AMLO announced the actions taken regarding the assets of The Icon Group Company, prompted by reports of fraudulent lending practices violating consumer protection laws. Investigations revealed potential concealment of assets related to criminal activities, necessitating urgent measures.
The Secretary-General of AMLO invoked Section 48 of the Anti-Money Laundering Act to issue a seizure order (Y. 214/2024) encompassing the assets of The Icon Group, including securities trading funds, savings accounts, and various digital assets, totaling approximately 125,548,077 THB, frozen for a period not exceeding 90 days.
AMLO further cautioned that transferring, receiving, or altering assets linked to the criminal activities to conceal their origins is punishable by imprisonment from one to ten years, fines from 20,000 to 200,000 THB, or both.
This article was rewritten from a Thairath’s news article.
