A-List Stars Among The 18 Suspects Charged In A High-Profile Pyramid Scheme
18 suspects have been charged and had assets seized in a high-profile fraud case. Among them are celebrities, including a popular TV host and top actors.
In October, Thai police arrested 18 people in connection with the iCon Group fraud case. Now, the suspects, who allegedly convinced victims to buy iCon Group’s health supplements, and more, have been officially charged with defrauding the public and violating Thailand’s Computer Crimes Act. More than 1,100 victims, who collectively lost ฿400,000,000 (approximately $11.5 million USD), have filed fraud reports.
The list of suspects, all dubbed higher-ups in the scheme’s hierarchy, includes the founder and CEO Warathaphon “Boss Paul” Waratyaworrakul, TV host Kan Kantathavorn, actor Sam Yuranunt Pamornmontri, and actress Peechaya Watanamamontree.
The iCon Group’s leaders in the scheme reportedly recruited victims by offering low-priced online courses in sales and then persuaded the victims to make increasingly larger financial commitments to iCon Group to recruit even more victims.
In addition to being charged with defrauding the public and violating the Computer Crimes Act, the suspects–all now detained–have been charged with violating the Law on Loan Amounting to Public Cheating and Fraud and the Direct Sales and Marketing Act. The suspects, who have been denied bail due to being flight risks, are being held at the Bangkok Remand Prison and the Central Women Correctional Institution in Bangkok.
