Multiple Thai Celebrities Arrested for Fraud

October 17, 2024

Several luxury cars seized from the iCon Group are seen at the Bangkok Central Bureau of Investigation on October 17, 2024. Police arrested 18 people, including three celebrities, and arrested luxury cars and millions of dollars related to the pyramid scheme, the police. Said

Bangkok — Thai police have arrested 18 people, including three celebrities, and seized luxury sports cars and millions of dollars in connection with a pyramid scheme selling health and dietary supplements, officers said Thursday. The arrests came after more than 1,000 people filed online fraud allegations against The iCon Group, a company they said had lured them into buying products and making financial commitments. The company’s founder and CEO, Warathaphon “Boss Paul” Waratyaworrakul, was detained on Wednesday along with a top TV host and an actress who had allegedly helped convince victims to join the scheme.

Bangkok — Thai police have arrested 18 people, including three celebrities, and seized luxury sports cars and millions of dollars in connection with a pyramid scheme selling health and dietary supplements, officers said Thursday. The arrests came after more than 1,000 people filed online fraud allegations against The iCon Group, a company they said had lured them into buying products and making financial commitments. The company’s founder and CEO, Warathaphon “Boss Paul” Waratyaworrakul, was detained on Wednesday along with a top TV host and an actress who had allegedly helped convince victims to join the scheme.

Thai, the founder and CEO of the iCon Group, Warathaphon Waratyaworrakul, known as “Bridge Boss”, arrives at the General Investigation Department after his arrest in Bangkok on October 16, 2024.

Thai police have arrested 18 individuals, including three high-profile celebrities, in connection with a major pyramid scheme involving the sale of health and dietary supplements. Among those arrested was Warathaphon “Boss Paul” Waratyaworrakul, the CEO and founder of The Icon Group, a company accused of defrauding thousands of people. The arrests came after over 1,000 victims filed complaints, alleging they were tricked into purchasing products and making significant financial investments under pretenses.

In addition to Waratyaworrakul, a well-known TV host and a popular actress were also taken into custody for their alleged involvement in promoting the scheme and persuading victims to join. The police seized a fleet of luxury sports cars, including Porsches and Ford Mustangs, and froze $3.8 million in bank accounts linked to the company’s top executives. Authorities are continuing to investigate the financial transactions and cash flows connected to the suspects, aiming to uncover any additional participants or facilitators involved in the fraudulent operation.

The iCon Group reportedly enticed victims by offering low-cost online sales courses, drawing in unsuspecting individuals with promises of lucrative opportunities. Once people signed up, they were coerced into making further purchases and financial commitments, ranging from $75 to as much as $7,500. These funds were often used for marketing efforts to recruit new members into the scheme. The pyramid structure relied heavily on continuous recruitment, with profits being generated from new members rather than legitimate product sales.

Some victims, including a professional football player, reportedly lost over $18,000 to the fraudulent operation. The total amount of money defrauded has yet to be fully calculated by authorities. This case has drawn comparisons to other high-profile fraud cases in Thailand, including the notorious “Forex-3D” scandal, which deceived thousands of investors through a fake foreign exchange trading platform. Public outrage over the involvement of celebrities in these schemes has amplified concerns, as their fame and influence were key in attracting victims.

Thailand has a history of significant fraud cases, with one of the most infamous being the pyramid scheme led by Chamoy Thipyaso. In 1989, Thipyaso was sentenced to a world-record non-life prison sentence of 141,078 years for defrauding members of the public, including individuals from the Thai royal household. Despite the severity of her sentence, Thipyaso was released after serving only eight years in prison, a move that shocked the public.

The recent arrests and crackdown on The iCon Group serve as a reminder of the persistent nature of fraudulent schemes in Thailand. The involvement of high-profile figures in promoting these scams highlights the ongoing risks of public deception and the challenges authorities face in preventing and prosecuting such crimes. This case underscores the need for increased vigilance and awareness to protect vulnerable individuals from falling victim to similar schemes in the future.

SOURCE: voanews.com