iCON Group CEO ‘Boss Paul’ pleads innocence

Warathaphon Waratyaworrakul, also known as Boss Paul, chief executive of The iCON Group Co Ltd, along with his lawyer, appeared before investigators at the Central Investigation Bureau at 1.20pm on Saturday to demonstrate his innocence after numerous complaints accusing him of fraudulent investment schemes.

Warathaphon expressed deep sadness and regret after hearing about the victims, including reports of suicide. 

He stated that he came to show his sincerity and willingness to go through the judicial process. He acknowledged that his explanation was delayed but emphasised his intent to support and compensate those affected. 

In case of financial losses and deaths, he said he would seek an impartial mediator trusted by society to help resolve the issues and provide justice for the victims.

When asked about the involvement of celebrities as part of the company's management, he declined to comment publicly and said he would provide those details to police.

A reporter asked if the financial losses were due to the company's mistakes. Warathaphon responded that both sides, the company and the victims, must present their evidence. He believes that with information from both parties, society can reach a fair judgement, but the matter must go through the judicial process first.

"I confirm my innocence. Over the past six years, I never imagined that online sales of this nature would be illegal, and there are many other companies doing the same. I am not the first to think of or run such a business, as I’ve seen senior entrepreneurs succeed in this field with many online brands," Warathaphon said.

Earlier in the day, police executed a search warrant from the Criminal Court and raided nine locations across Bangkok and surrounding provinces, all linked to The iCON Group, to gather additional evidence. 

The focus of these raids was to collect documents, particularly related to product sales and production quantities, to clarify whether the company was primarily involved in selling products or raising funds.

Meanwhile, victims continued filing complaints at the Crime Suppression Division, where arrangements were made to handle a large number of complainants seeking legal action against the company.

Since the morning, victims from various regions across the country have been submitting documents and filing complaints. The Central Investigation Bureau (CIB) has prepared up to 70 investigators to assist throughout the day, as the overwhelming number of complaints yesterday slowed down the investigation process.