Officers from the Central Investigation Bureau (CIB) dramatically swooped to arrest 18 key members of iCon Group, including its CEO, three well-known celebrities, and other key suspects over allegations of fraud.
Shocking revelations from multiple victims and former members have exposed iCon Group Group’s dodgy business model, which appears to mirror a Ponzi scheme. Many investors lost their life savings, with some even driven to suicide by the unbearable stress of their financial ruin.
As lawyers and victims continue to share damning evidence, suspicions are growing that the company may have been bribing powerful, unnamed politicians to keep its alleged illegal activities under wraps. So far, more than 635 people have come forward, claiming total losses exceeding a staggering 232 million baht.
The Anti-Money Laundering Office (AMLO) reported yesterday, October 16, that assets totalling around 125 million baht would be seized from four key members, including the CEO Waratphol “Paul” Waratworakul, known as “Boss Paul”, TV host Kan Kantathavorn, Nichaphon Thongmee, and Jittaya Hong-uppatham.
In the latest update, CIB officers announced on their official Facebook page yesterday that they issued arrest warrants against 18 leading members of iCon Group, with arrests starting gradually from Boss Paul.
The three celebrities—Kan, Peechaya Wattanamontree, and Yuranunt Pamornmontri—who previously denied involvement with the company, were also arrested.
The other 14 suspects arrested yesterday were:
- Panjarat Kanokrakthanaporn (Boss Pan)
- Thananon Hirunchaiwan (Boss Doctor Ek)
- Natpasorn Chattanasorn (Boss Suay)
- Yasikan Ekchitsanupong (Boss Soda)
- Nantarat Chaowanapreecha (Boss Ohm)
- Tawinphat Phuriphatnarin (Boss Win)
- Hatsayanon Ekchitsanupong (Boss Pop)
- Wilailuck Yawichai (Boss Joy)
- Jirawat Saengphakdee (Coach Lab)
- Thanaroj Thitijariyawat (Boss Off)
- Kanokthon Ounasikhon (Boss Mae Ying)
- Klod Setthanan (Boss Peter)
- Saowapha Wongsakha (Boss Aoommie)
- Chate naphat Apipattanakan (Boss Tommy)
The lawyer representing Boss Paul told Thai PBS that each member was arrested for conspiracy to commit fraud and for violating the Computer Act. Further details of the charges have not yet been revealed.
Media reports indicated that CIB officers did not allow bail, and each suspect is expected to be detained from today, October 17, until the conclusion of the questioning.
In addition to the arrests, CIB police also seized several luxury cars from key members of the company. Furthermore, a plot of land of approximately 108,000 square metres in Pathum Thani province near Bangkok, which was designated for a new warehouse for the company, was temporarily confiscated.
The story iCon-venient truth: Cops swoop to arrest 18 in fraud bust scandal as seen on Thaiger News.
