B220m in assets initially seized from iCon suspects

Officials have initially impounded assets worth about 220 million baht including luxury cars from suspects in The iCon Group fraud case. Nearly a quarter of the total belonged to its chief executive.
The assets were seized from the 18 suspects who were arrested on Wednesday amid an investigation into allegations that the online sales firm ran a pyramid scheme that caused losses for hundreds of people.
According to sources, the assets seized from iCon CEO Warathaphon “Boss Paul” Waratyaworrakul alone were estimated to be worth 61 million baht.
They included a Mercedes-Benz S500e, a Bentley Flying Spur Hybrid, a Rolls-Royce, luxury bags, watches and firearms.
Authorities also impounded assets worth about 30 million baht from Panjarat Kanokrakthanaporn. They included a McLaren and a BMW X3.
From the well-known TV programme host and actor Kan Kantathavorn, officials seized 17 million baht worth of assets including a Mercedes-Benz Sprinter 416 CDI Van, a Porsche Cayenne S E-Hybrid, a Ford Mustang and a KIA Carnival.
Sources familiar with the investigation said officials had yet to impound many more assets from the suspects. They also found that some suspects had turned their cash into digital assets in an attempt to conceal them before the scandal started to make headlines this month.