Laos Post

Saturday, Dec 21, 2024

iCon Group Victims Emerge in Laos, Cambodia, Myanmar, and Japan

Pyramid scheme allegations widen across Southeast Asia and beyond
Hundreds of victims of the alleged pyramid scheme operator, iCon Group, have surfaced in Laos, Myanmar, Cambodia, and Japan, adding to over 500 complainants in Thailand. The Thai victims claim losses exceeding two hundred million Thai baht after being lured into becoming dealers of the company's supplementary food products, only to be encouraged to recruit others when sales failed.

Reports indicate that iCon Group, led by CEO Warathaphon “Boss Paul” Waratyaworrakul, expanded aggressively into neighboring countries, recruiting over a thousand members in Laos, including celebrities. The company also reportedly targeted Myanmar and Cambodia, using Thai entertainers to endorse its legitimacy and lure investors.

In Japan, a Thai woman revealed that she had recruited many Thais under iCon Group, only for them to lose significant investments. Victims from all regions are calling for legal action against the alleged pyramid scheme.
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