THE Department of Special Investigation (DSI) is moving to file four charges against all 18 executives of The iCon Group after going through 300,000 pages documents and questioning 50 witnesses, Amarin TV said today (Dec. 20).
Investigation was launched after investors complained to police that they had lost hundreds of thousands and up to millions of baht after investing in The iCon Group’s direct sales business which employed celebrities, stars and influencers to draw people to buy its products for resale. This led to all 18 executives, called bosses, including the company’s CEO Mr. Waranthaphon Wratyaworrakul, or Boss Paul, being detained.
Pol. Lt. Col. Yuthana Phraedam, DSI’s director-general, said all 18 suspects face four charges as both individuals and a juristic person. These charges stem from violation of the Emergency Decree on Obtaining Loans Amounting to Public Cheating and Fraud , B.E. 2527 (1984), also known as the pyramid scheme law; and violating both the Direct Sales and Direct Marketing Act B.E. 2545 (2002) and the Computer Crime Act BE 2550 (2007).
This case will be forwarded to the Office of the Attorney General on Monday Dec. 23.
Pol. Lt. Col. Yuthana said investigation showed that most of the products were sold among members of this company with very little reaching consumers and the focus more on recruiting members than selling products.
At today’s meeting useful information from the defendants’ testimonies was considered, including the testimonies of approximately 50 witnesses, but a conclusion was reached to proceed with the case against them,
DSI has also separated money laundering charges and crimes committed overseas as separate cases.
CAPTIONS:
Top: Pol. Lt. Col. Yuthana Phraedam, left, and Mr. Waranthaphon Wratyaworrakul, or Boss Paul, right. Photo: Amarin TV
Front Page: Mr. Waranthaphon Wratyaworrakul. Photo: Thai Rath
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