PM Paetongtarn responds to iCon Group scandal with urgent measures

Prime Minister Paetongtarn Shinawatra has instructed relevant agencies to find a way to protect people from falling for get-rich-quick Ponzi schemes.

The PM’s order comes in the wake of a recent controversy involving iCon Group, which is suspected of luring hundreds of people into buying products under the pyramid scheme.

The company began making headlines last week when victims began filing complaints filed police complaints that they had been lured into investing in the company’s food supplements, which they were told would be resold quickly.

When they failed to shift the products, the company told them to recruit more dealers to work under them and collect a portion of their “investment”.

As of Monday, police said complaints against the company had risen to 635 with reported damages amounting to 232.4 million baht.

Meanwhile, the premier said she has ordered the Royal Thai Police to make it easier for people to file complaints.

The Consumer Protection Board has also been told to implement measures and enforce laws to protect people from dubious pyramid schemes and raise public awareness.

“Some people are lured into business without knowing the requirements for direct selling,” she said, adding that she aimed to protect innocent people from being duped again.

The PM also said that the Public Health Ministry’s Food and Drug Administration has been urged to ensure no unregistered food products are being sold directly or via online platforms.

Paetongtarn has also instructed the Finance Ministry to inspect and implement measures to deal with businesses employing the pyramid scheme.

As for rumours about state officials seeking to extort bribes from the iCon Group, Paetongtarn said these allegations need to be investigated and that the Department of Special Investigation will have to help with this issue.

She went on to say that relevant agencies have been tasked with strictly cracking down on fraudulent business models and reporting the progress to people, so they know what to do to cope with scams.

She added that House Speaker Wan Muhamad Noor Matha has also instructed a House panel on consumer protection to consider this scourge of Ponzi schemes.