The Thai Police announced on October 17 that they had arrested 18 individuals, including three celebrities, for their involvement in a huge alleged pyramid-selling scheme fraud related to Icon Group.
A police officer reads arrest warrant to Warathaphon “Boss Paul” Waratyaworrakul, CEO of Icon Group, at the Office of the Consumer Protection Board. (Source: Central Investigation Bureau)
Bangkok (VNA) - The Thai Police announced on October 17 that they had arrested 18 individuals, including three celebrities, for their involvement in a huge alleged pyramid-selling scheme fraud related to Icon Group.
The group is suspected of luring thousands of people into buying products under the pyramid scheme. It began making headlines last week when more than 1,000 victims filed police complaints saying they had been lured into investing big sums to buy the company’s products, causing a loss of over 400 million baht (12 million USD).
Authorities reported freezing 125 million baht in the bank accounts of four executives of the company and seizing luxury cars, including Porsches and Ford Mustangs.
The police are investigating the bank accounts and cash transfers associated with the suspects to determine if there are any additional individuals involved.
♊ The Thai government has also set up a committee to investigate allegations that many state officials are implicated in this scheme, involving extortion and bribery from the company./.
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