A group of 40 Thais and foreigners living abroad have accused The iCon Group of failing to deliver products they purchased, leading to losses of 20 million baht. The total number of complaints against the online business promoter has now reached nearly 3,000.
Itthidet Thanetwattana, a representative for the victims, filed a complaint at the Central Investigation Bureau (CIB) in Bangkok on Saturday. He presented documentation including receipts for iCon product purchases, photos of shops that had ordered products for sale abroad, and images of victims with Warathaphon “Boss Paul” Waratyaworrakul, the founder and CEO of The iCon Group.
Mr. Itthidet stated that the 40 victims, comprised of 20 from Asia and 20 from Europe, reside in countries such as China, Hong Kong, Macau, Italy, Germany, Canada, Estonia, and Luxembourg, and had collectively lost at least 20 million baht. Most of them, primarily housewives, were not looking to become dealers but simply ordered products to sell locally. They transferred funds for these purchases, but the products were never delivered.
Victims were drawn to iCon through advertisements featuring celebrity endorsements on Facebook. Some even met Mr. Warathaphon and other celebrity figures during overseas trips. One woman in Hong Kong transferred over one million baht for cocoa powder, coffee, and collagen products, but only received a portion of her order. When she sought help from an agent who had encouraged her to invest, the agent denied responsibility.
Mr. Itthidet noted that foreign victims faced challenges with communication and travel costs, making it difficult to pursue their complaints. Some may authorize relatives or friends in Thailand to provide statements to investigators.
As complaints continue to rise, the total number against The iCon Group reached 2,910, alleging involvement in a pyramid scheme that has resulted in combined losses of 911 million baht. On Saturday alone, 85 individuals filed complaints over losses totaling 29 million baht.
Mr. Warathaphon, along with 17 others—including celebrities—was arrested on charges of public fraud and providing false information. They have denied all allegations. Most of the suspects did not apply for bail, and those who did had their requests denied. All 18 suspects, comprising 11 men and seven women, are currently in custody.
