Thai Times

Covering the Thai Renaissance
Sunday, May 25, 2025

Fraud Scandal Involving The iCon Group Escalates

The iCon Group Co is involved in a major fraud scandal with 740 reports and 250 million baht in alleged losses. Suspected victims across Southeast Asia and Japan have emerged. Six key figures have voluntarily turned themselves in, including high-profile CEO Warathaphon Waratyaworrakul and TV host Kan Kantathavorn. Investigations continue, with the Department of Special Investigation likely to intervene.
The iCon Group Co is at the center of a fraud scandal with 740 complaints filed, resulting in alleged losses of 250 million baht.

Victims from Cambodia, Laos, Myanmar, and Japan have accused the company of fraud.

As many victims cannot report in-person, complaints can be filed locally or online.

The Department of Special Investigation (DSI) is likely to take over due to the severity of the case.

Six key figures, including CEO Warathaphon 'Paul' Waratyaworrakul and TV host Kan Kantathavorn, have turned themselves in voluntarily and are suspects in the case.

All have been released pending further evidence.

Warathaphon maintains the company's innocence and claims no charges have been pressed yet.

Separately, the FDA announced that one of the 14 products advertised by the company lacks FDA certification.
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