AMLO requested to confiscate assets of iCon Group

The police are to ask the Anti-Money Laundering Office to confiscate assets of The iCon Group, a direct sales company suspected of scamming the public by using celebrities.

Complaints regarding the company’s dubious business operation started to surface earlier this week, with some of the resellers turning to social media influencers for help after they reportedly took loans or sold their assets to make the sales quota set by the company. Some of them even faced bankruptcy and asset confiscation.

Acting National Police Chief Pol Gen Kittirat Panpetch said on Thursday that the police had interrogated several victims, adding that the financial damage to them was around 31 million baht.

The company invited people to help its direct sales business, for which they had to pay fees for training and opening a credit line, he explained. He said opening credit was divided into three levels: normal for 2,500 baht, super for 25,000 baht and dealer for 250,000 baht.

Police were currently investigating the company registration to see whether or not it complied with the law, he added.

Kittirat said he was unable to comment on what offences The iCon Group will face, saying that this requires further investigation but it seemed likely the company would be charged with dubious direct sales, running a Ponzi scheme and scamming investors, he said.

He confirmed that anyone found to be involved in the scams will face legal action including celebrities who have helped with the company’s advertisements or have been appointed as the company’s executives.

Regarding the victims who filed complaints against the company in 2022, he said Pol Lt-Gen Akkaradet Pimonsri, the assistant national police chief, has been ordered to investigate and that the officers involved would face punishment for neglecting duties.

He added that a suspect who threatened a news reporter with a message while he was on air would also face legal action to boost confidence among people.

Meanwhile, Thai actor and moderator Kan Kantathavorn, who was reportedly among three celebrities involved with the company, announced a temporary suspension of his work as a moderator on TV shows.

In a social media post on Thursday, he wrote that he was concerned over the direct sales company case, saying that this move aimed to prove his innocence and show respect for his colleagues and the wider society.

“I would like to suspend my role as a moderator for all TV programmes until there is clarity on the case. And I am ready to provide information to all relevant agencies to ensure an accurate judicial process,” he said.

A similar statement regarding the Thai moderator was subsequently released by Thai Broadcasting, a subsidiary of Thai media company Workpoint Entertainment.

According to a Kom Chad Luek report, Kan had been appointed as The iCon Group’s  chief marketing officer. Another two celebrities, Yuranunt “ Sam” Pamornmontri and Pechaya “Min” Wattanamontri, had been appointed as chief research officer and chief communications officer, respectively.