Kathmandu. Last year, the political and celebrity elites were enmeshed in a massive alleged pyramid-selling scheme scam. In a massive police operation, 18 bosses were arrested. In addition, significant land close to Bangkok and financial assets worth ฿125 million were confiscated. Tens of thousands of people have been defrauded and are out of money as a result of the scandal, which undoubtedly poses a serious political risk. The company, The Icon Group, is accused of receiving political protection or support. In fact, the Office of the Consumer Protection Board, the state organization tasked with safeguarding consumers, has come under fire for its involvement in the case.

Attorneys for the “bosses,” or top executives, of The Icon Group, started drafting bail applications. This comes after 17 other senior corporate executives and Warathaphon “Boss Paul” Waratyaworrakul were arrested.

In short, this case comes after the firm, which has been in business since 2019, was accused of public fraud and deception. According to police sources, there were more than 1,100 cases on Wednesday, and the damages were close to ฿400 million.

This is essentially a traditional pyramid-selling scheme, according to the allegations. The business, however, disputes the accusation, claiming that it was a peer-to-peer marketing internet sales network.

Investigations into the claims of a pyramid scheme by Icon Group are marked by police caution and celebrity arrests.
The establishment undoubtedly catered to showbiz stars and celebrities, some of whom were among those arrested on Wednesday. Managers of the company’s internet sales outlets were specifically among those arrested.

The new National Police Chief had warned against making any public statements about the matter before the arrests. Given the nature of the get-rich-quick scheme, he said, it would need careful evidence collection and police attention to detail to successfully prosecute anyone involved.

Additionally, General Kittirat Phanphet informed reporters that more than 900 complainants had already been questioned by police in connection with the investigation.

The Anti-Money Laundering Office (AMLO) took action to confiscate 62 rai of valuable land that The Icon Group had purchased close to Bangkok. According to reports, the land might be worth up to 200 million baht.

In addition, 11 bank accounts totaling ฿125,548,076 have been seized by the AMLO.

As audio snippets suggest political connections and potential protection, the head of Icon Group is arrested.
Warathaphon “Boss Paul” Waratyaworrakul, meanwhile, was arrested at the Consumer Protection Board Office on a Wednesday afternoon. The boss of The Icon Group had previously been summoned in to address officers, specifically over the sales network’s operations.

Meanwhile, a political dispute has surfaced. The head of The Icon Group revealed controversial audio clips that implied a long-standing relationship with a member of parliament. The legislator, who is thought to be from the Palang Pracharat Party, seemed to imply that the Consumer Protection Board’s appointments may be managed.

A police raid on Monday resulted in the arrest of a gold couple on criminal allegations of fraudulent advertising and public fraud.
Specifically, the recordings described the agency as a “deity” that needed to be worshipped and sacrificed to on a regular basis. Police are currently looking into these audio clips, which are at the heart of a growing political scandal.

The Central Investigation Bureau’s (CIB) Deputy Chief, Police Major General Charoonkiat Pankaew, addressed media. First, he stated that police will ascertain whether the calls were made by AI or by real people. They would next check to see if they had been altered.

Amid the escalating issue, politicians validate voices in video, and police pledge prompt action to address the matter.

Nonetheless, a few lawmakers from the Palang Pracharat Party have since told reporters that the voice in the recordings is that of a top party official.

Nevertheless, Police Major General Charoonkiat pledged to find and apprehend those responsible for the misconduct. He cited references to “worship” and “offerings,” as well as the term “deity.”

This is probably only a metaphor employed by dishonest people looking to gain illegal advantages. In any case, if it turns out to be authentic, the police will arrest and prosecute—even if it’s a “deity”—we won’t be scared, and there won’t be any exceptions,” he said.

In the meantime, all 18 of The Icon Group’s managers were taken into custody following a massive police raid on Wednesday. The accused can be held accountable for public fraud, according to senior officials at the Office of the Attorney General (OAG). They are also charged under the Direct Sales and Direct Market Act, the Consumer Protection Act, and the Computer Crime Act.

As luxurious cars queue at CIB headquarters, Icon Group’s 18 executives are subjected to intensive interrogation.
After that, all 18 were brought to the headquarters of the Crime Suppression Division (CSD) for a rigorous interrogation. In fact, the chief, Police Major General Montree Theskhan, ordered additional interview rooms to be set up. He also directed the cleaning and preparation of the facility’s detention cells for incoming prisoners.

A convoy of high-end vehicles was spotted outside the Central Investigation Bureau (CIB) offices on Wednesday night as night fell. All 18 bosses were in jail, according to police confirmation. Boss Min, Boss Pop, Boss Suay, Boss Win, Boss Joy, Boss Off, Coach Lab, Ten Boss Kan, Boss Pun, Boss Tommy, Boss Ummi, Boss Paul, Boss Mae Ying, Boss Peter, and Eighteen Boss Soda were among them. Boss Soda was undoubtedly the last to arrive. There were luxury cars costing a hundred million baht in the forecourt. Among them were vintage Ford Mustangs, Rolls-Royces, Bentleys, Maybachs, McLarens, Ferraris, and Porsches.

The 18 executives, including CEO Warathaphon “Boss Paul” Waratyaworrakul, were recently charged by Thai authorities with allegedly growing the pyramid scheme and laundering money through political connections. Over 9,000 victims and damages surpassing ฿2.8 billion have been found during investigations. Politicians and celebrities have also been linked to the affair; leaked audio snippets indicate high levels of corruption and protection.