October 14, 2024
BANGKOK – On Sunday, police said the number of people who had filed complaints with the Central Investigation Bureau against the iCon Group were more than 500 so far, with claimed damages of more than 200 million baht.
Thai victims have told police that they were lured to become dealers or distributors of the firm’s supplementary food products with the promise that the products would sell like hotcakes. But they ended up failing to sell the products and were told instead to recruit more “dealers” to work under them so they could earn part of new recruits’ investment money.
Thai social networkers have shared posts that showed that there were also victims in three neighbouring countries of Laos, Cambodia and Myanmar, and even in Japan.
They shared photos and video clips of iCon Group chief executive officer Warathaphon “Boss Paul” Waratyaworrakul launching his business in Laos a few years ago. The event was grandly held with leading Thai entertainers appearing onstage to guarantee the credibility of the firm.
In Laos, the iCon Group has reportedly recruited more than 1,000 members, including entertainers and celebrities in that country.
Three Thai entertainers whose names were publicised as chief officers of the firm have also promoted the iCon Group in Cambodia and Myanmar and invited citizens of those two countries to invest to become dealers of the firm.
Meanwhile, a Thai woman in Japan informed a well-known Facebook page that she had been lured to become the head of a network under the iCon Group and she had introduced the business to many Thais there, only to see their investments lost.
She said many saw returns of only 4,000 baht after having invested 250,000 baht each as dealers for the iCon Group.