Pyramid scheme charges added to multi-billion-baht iCon Group case

The Department of Special Investigation is listing the suspects who will additionally face fraudulent borrowing, aka pyramid scheme, charges in The iCon Group direct marketing case.
DSI acting secretary-general Yuthana Phraedam said the DSI had discussed The iCon Group case with representatives of the Consumer Protection Board and the Fiscal Policy Office and received useful information to support its plan to charge suspects with fraudulent borrowing or pyramid scheme charges.
Eighteen detained suspects were earlier charged with public fraud and computer crime concerning computer-based invitations to potential dealers to sell products. Complainants in the case alleged that dealers focused on recruiting new dealers and encouraging them to invest in products rather than product marketing.
Pol Maj Yuthana said on Sunday that DSI officials had discussed many aspects of the case with consumer protection and fiscal policy officials, including the business plan of The iCon Group and the sales of its products. Earlier The iCon Group’s chief executive officer said its products centred on dietary supplements.
“Interrogators will meet and conclude a list of suspects who will face fraudulent borrowing charges that will be pressed in the near future,” he said. He confirmed that the DSI had enough evidence to support such charges.
Pol Maj Yuthana also said that the DSI was aware that The iCon Group chief executive officer’s lawyer planned to bring 20 witnesses to share information about the case with the DSI on Monday. The DSI would receive useful information from these people, he said.
Meanwhile, Withoon Keng-ngan, lawyer of The iCon Group CEO Waranthaphon “Boss Paul” Waratyaworrakul, said the 20 witnesses would form the first group of a total of about 2,400 witnesses who wanted to share their information with the DSI.
The lawyer said he would ask the DSI on Monday how many witnesses it could question on a daily basis.
Referring to the condition of the 18 detained suspects, Mr Withoon said they had adapted to their new environment and were not stressed, but most missed and were concerned about their family members.
He also said that suspects would seek bail of 3 million baht as the Criminal Court had denied bail of 2 million baht that three celebrity suspects had requested.
As of late last month, about 10,000 people had filed complaints with police nationwide, saying they had lost a total of about 3 billion baht through their dealerships for The iCon Group products.