The “iCON Group” has become infamous worldwide as representatives of victims from ten countries including Asia, Europe, and Canada have filed complaints against the company. They allege that after ordering products to sell, the company failed to deliver, resulting in damages exceeding 20 million baht. The Central Investigation Bureau (CIB) has reported that 2,702 victims have reported losses totaling 933 million baht. Additionally, local police departments have recorded 1,881 victims with claims of 424 million baht. Investigators are currently gathering evidence and preparing for a second wave of arrests within 48 days following the detention of initial suspects.
The complaints allege that the executives of “iCON Group Co., Ltd.” engaged in a Ponzi scheme disguised as a direct sales business, misleading individuals into investing without actually selling products. Many victims were lured by celebrity endorsements. As of now, a total of 18 individuals, including key figures like Mr. Worathapol and Mr. Kanthathavorn, face charges of fraud and corruption.
Over 10 Countries Represent Victims
On October 19, a representative of the foreign victims presented evidence such as receipts and photographs to the CIB to initiate legal action against the iCON Group.
Victims Across Asia and Europe
A representative revealed that the recent group includes 40 individuals from different countries including China, Germany, and Canada, collectively reporting losses of over 20 million baht. Many victims had initially sought to sell legitimate products internationally but ultimately received nothing in return.
Significant Individual Losses
One victim in Hong Kong reported investing over 1 million baht but only received a fraction of their order. Concerns regarding legal proceedings persist due to language barriers and travel costs.
Accelerating Arrests
The police are finalizing the second batch of warrants and hope to gather substantial evidence to substantiate the case further.
Missing Evidence Investigation
Investigators are still searching for audio recordings purportedly made by a suspect, which could contain crucial evidence of extortion.
Investigators Pursue Key Associates
Authorities are probing into the whereabouts of a close driver associated with a key suspect, as they believe important information might be stored on a missing phone belonging to the suspect.
Electronic Evidence Under Analysis
Seized electronic devices and phones from suspects have been sent for forensic analysis to recover pertinent evidence.
Public Outcry Over Land Use
The Ministry of Natural Resources is investigating land use at a meditation center linked to a prominent monk, finding unauthorized construction beyond permitted limits.
Official Response to Accusations
A government minister assured that all associated parties, including government officials and celebrities, will be held accountable.
Evidence of Despair Among Victims
Cases of extreme distress among victims include an individual who committed suicide after losing everything in the scheme, highlighting the severe psychological impact of the fraud.
Nationwide Crime Reporting Network Established
To facilitate reporting, police stations across Thailand are setting up centers specifically for victims of the iCON Group.
Investigation Continues Across Regions
The investigation reports show victims from different regions, indicating widespread impact, with losses reported over 12 million baht in one province alone.
Read more details in Thai Rath’s column here.
This article was rewritten from a Thairath’s news article.