The Anti-Money Laundering Office (AMLO) has sequestered assets belonging to the iCon Group and its CEO and three top executives, worth about 125 million baht, for 90 days, as a precautionary step to prevent the assets from being transferred, removed or concealed.
AMLO’s decision to impound the assets of the iCon Group, CEO Waratphol Waratvorakul, Nitchaphon Thongmee, Kan Kantathavorn and Thittaya Hong-uppathamchai came after the Consumer Protection Division reported it suspects that the online direct marketing company and its top executives had been engaged in a business which had been defrauding the public.
The frozen assets are in the form of 11 bank accounts, including current and savings accounts, as well as accounts for shares and digital assets trading.
AMLO also warned that any individual who helps the company and the executives to conceal or transfer their assets, in an attempt to evade seizure by the authorities, may face money laundering charges, which carry a penalty of up to 10 years in prison and/or a fine of up to 200,000 baht on conviction.
Meanwhile, the cabinet discussed the iCon Group issue yesterday and instructed the Royal Thai Police and the Office of the Consumer Protection Board to tighten controls on online retail businesses and to educate the public about the nature of the business to prevent them from being cheated by scammers.
The Ministry of Public Health was told to instruct the Thai Food and Drug Administration to enforce the law strictly, to prevent substandard goods from being sold online.
Asked to comment about an unconfirmed report that some MPs may try to help iCon Group executives to avoid prosecution, Prime Minister Paetongtarn Shinawatra said that the House speaker is looking into the matter.
