Within 48 hours, the police will issue arrest warrants for executives and celebrities associated with the “the icon group” direct selling business. Currently, over 120 bank accounts linked to this group have been sent to the Anti-Money Laundering Office for investigation.
On October 11, 2024, Police Colonel Uthen Nuphin, deputy spokesperson for the National Police Agency, confirmed this after a joint operation by the Consumer Protection Police Division and the Office of Consumer Protection Board inspected the “the icon group” warehouses. They discovered that despite having only 15 product listings, the company’s revenue in some years exceeded 5 billion baht. This operation also aimed to verify the legality and standards of their business practices.
Police have sent banking records from over 120 accounts to investigate financial connections to determine whether money laundering has occurred. The department is working continuously, and within the next 48 hours, they will issue warrants for those involved.
When asked if a summons would precede the warrants, Colonel Uthen stated that since the offenses carry penalties exceeding three years, direct arrest warrants can be issued without prior summons. These warrants are expected for executives or celebrities involved in fraud under the borrowing law related to scams, which constitutes money laundering offenses and violations of the Computer Crime Act.
The assets of “the icon group” primarily comprise large properties that cannot be easily liquidated, allowing police to seize and return assets to victims, following procedures from the anti-money laundering authority.
There are two types of direct selling: 1) direct sales to consumers, and 2) online marketing. Both can be legal if compliant with regulations, but distinguishing between legitimate direct sales and pyramid schemes is critical, especially regarding fundraising activities that might imply scamming.
The police are currently gathering more than 200 victims to elevate the case to special status. As of now, 161 individuals have reported losses totaling over 62 million baht, with expectations that the number of complaints will exceed 200.
Victims can report their cases to the Crime Suppression Division 24/7, including weekends. Authorities are collaborating closely among various departments to tackle this case effectively.
This article was rewritten from a Thairath’s news article.
