Authorities Freeze Assets of iCON Group

The Anti-Money Laundering Office (AMLO) has ordered freezing assets worth approximately $3.7 million from the iCON Group, its CEO and three others including well-known TV host. The move comes amid allegations of fraudulent activities linked to the direct-sales company.

The AMLO’s action was based on a report from the Consumer Protection Police Division, which indicated that the iCON Group may have violated the 1984 Borrowing Money for Fraudulent Purposes Act. An investigation revealed a strong possibility of asset transfers, concealment, or disguise related to the alleged crimes.

Citing urgent circumstances, the AMLO has ordered the freezing of 11 assets, including securities accounts, current accounts, savings accounts, and digital asset accounts, with a total estimated value of approximately 125.5 million baht. The freeze order will be in effect for a maximum of 90 days.