National —
On November 4th, 2024, Acting Director-General of the Department of Special Investigation (DSI), Pol. Lt. Col. Yutthana Praedam, provided an update on the iCon Group case following a meeting with investigators.
The DSI unanimously agreed to file charges against 18 Boss suspects, including key executives and one legal entity, iCon Group. The charges involve violations of the Loan and Direct Selling Acts, relating to an alleged pyramid scheme.
The DSI will issue charges this week and next, as the legal teams of the accused prepare. A special task force, including financial experts and public prosecutors, has been established to streamline the investigation.
Evidence gathered by the Central Investigation Bureau suggests the suspects may have engaged in fraudulent activities under the Emergency Decree on Loans and Direct Selling Act.
Pol. Lt. Col. Yutthana addressed concerns regarding celebrity bosses who, despite not being in the company’s official structure, are implicated due to their involvement in the scheme’s operations. He emphasized that although their roles varied, all participants shared the same fraudulent goal, making them liable under the pyramid scheme law.
The DSI continues to investigate money laundering allegations, tracing the financial transactions of the 18 suspects and iCon Group. Further charges may follow as evidence is gathered. Despite defense claims of over 2,400 witnesses, Pol. Lt. Col. Yutthana confirmed that only relevant testimonies will be considered to avoid delays in the case.
This article originally appeared on our sister website The Pattaya News.
