The Department of Special Investigation (DSI) has been instructed by Justice Minister Tawee Sodsong to approach the Law Council of Thailand over the possibility of filing a class action lawsuit against iCon Group and its management, in parallel with criminal proceedings being pursued by the police.
Pol Maj Woranan Srilum, director of the DSI’s Informal Finance Division, said that a class action suit would benefit the affected investors and could set a precedent for similar cases in the future.
More investors have filed complaints against the iCon Group, as the Central Investigation Bureau widens its investigation.
Yesterday, DSI officials searched an office building in Bangkok’s Ram Inthra area and another in Thanyaburi district of Pathum Thani, looking for digital information about the financial transactions of the e-commerce company.
A police source said that the Ram Inthra office building is the cloud data centre of the iCon Group, while the building in Pathum Thani is where a server is located, which was operated by one of the 18 detained executives, identified as Chirawat Saengpakdee.
The police source said that some equipment and other belongings had been removed before the search by the police.
The 18th suspect charged by the police, Icon Group CEO Waratphol Waratvorakul, is due to appear before the Criminal Court this morning, with police seeking court approval for his further detention during the investigation.
17 other executives and core members of the company are currently being detained for 12 days at the Bangkok Remand Prison and the Central Women’s Correctional Institution.
