The iCon Group, a company founded by CEO Warathaphon Waratyaworrakul, has recently come under fire as 1,067 complainants have reported losses totaling B378 million. Mr. Warathaphon, also known as Boss Paul, appeared on the Hon Krasae talk programme on TV Channel 3 to address the situation and faced the relatives of investors who had tragically lost their lives due to failed investments in the company’s products.
During the programme, heartbreaking stories were shared by the family members of those who had lost their lives after investing in the group’s products. One woman shared the story of her brother who took his own life after investing and losing money he borrowed from his mother. Another woman recounted how her retired government official brother fell seriously ill and invested borrowed money in The iCon Group, only to lose it all on products he couldn’t sell.
Among the affected individuals was Patcharee, a woman with various health conditions, who invested her savings and borrowed money to invest in the group’s products. Like many others, she lost all her money despite high hopes for a successful investment.
Mr. Warathaphon expressed deep remorse and promised full compensation for the losses suffered by investors. He admitted that he was unaware of the dire situations some investors were in and vowed to take responsibility by using his wealth to compensate those affected.
The Central Investigation Bureau reported that a total of 1,067 people had filed complaints against The iCon Group, with alleged losses amounting to B378 million. The police have been investigating the case and have questioned numerous complainants to gather more information.
The iCon Group, initially focused on direct marketing, has expanded its product line over the years and now offers a variety of products. Mr. Warathaphon clarified that the company hired actors and actresses solely for product presentations and did not encourage others to invest in the business.
The tragic stories shared on the Hon Krasae programme shed light on the devastating impact of failed investments on individuals and families. The promise of compensation from Mr. Warathaphon offers a glimmer of hope for those who have suffered losses at the hands of The iCon Group. The ongoing investigation will hopefully provide further clarity and justice for the affected investors.