iCon Group’s ‘Boss Paul’ apologises, promises to make amends
In an interview televised on Monday, iCon Group CEO Warathaphon Waratyaworrakul emotionally declared that he will provide support for people who have fallen victim to his company’s alleged Ponzi scheme.
Warathaphon, widely known as “Boss Paul”, also apologised for his actions and expressed willingness to make amends. He acknowledged the suffering caused to many victims, including those who had lost their loved ones due to financial problems.
The company has established a hotline for victims and is cooperating with the investigation. It has said it is willing to participate in a mediation process to resolve the issue.
Police are continuing their investigation into the company’s operations and have executed search warrants at multiple locations. The authorities are gathering evidence to determine whether The iCon Group was only selling products or was also involved in fraudulent investment activities.
The number of complaints against the company is growing, with victims seeking legal action. So far, victims have alleged that they suffered losses worth 178 million baht in an alleged pyramid scheme disguised as an MLM (multilevel marketing) direct sales business. Most of them were lured into buying products from the company to resell by celebrity endorsements.
