5,000+ complaints about Bt1.6 billion in losses filed against iCon Group

To date, a total of 5,648 investors have filed complaints with the police against iCon Group, claiming that they have sustained combined losses of 1.6 billion baht through their investments in the company, according to the Central Investigation Bureau (CIB).

By yesterday, police had managed to interview 2,875 of them.

Meanwhile, Pol Maj-Gen Charoonkiat Pankaew, CIB deputy commissioner, said that they have already obtained a transcript of the conversation between iCon Group’s CEO Waratphol Waratvorakul and a politician, identified only as “Sor”, from Waratphol’s cell-phone, during which “Sor” is heard demanding a bribe from the CEO.

He also said that the police are now trying to extract information from Waratphol’s second cell-phone. He added that police investigators will need to see the CEO to get more information about the politician in question.

Waratphol and other male executives of iCon Group, among them Kan Kantathavorn and Yuranunt Pamornmontri, are currently being held on remand in the Bangkok Remand Prison until this Wednesday unless a court approves a further extension.

All 18 have initially been charged with defrauding the public and entering false information on computer system, in violation of computer-related crime laws. Additional charges are still being considered.

Pol Maj-Gen Charoonkiat said that he is not worried about the prospect of some politicians being involved in the iCon Group scandal, stating that appropriate action will be taken if there is sufficient evidence.

PM Office Minister Jiraporn Sindhuprai, meanwhile, said authorities are considering whether to withdraw the direct marketing license granted to iCon Group, adding that it may take about a month to reach a decision.