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Greater than 740 complaints have surfaced up to now towards The iCon Group, Thailand’s Central Intelligence Bureau stated late on Monday, alleging losses of about US$8 million.
Based six years in the past by Waratpol Waratworakul – higher often known as “Boss Paul” – the corporate leveraged his rags-to-riches narrative to attract in as many as 400,000 recruits desperate to promote magnificence merchandise and dietary supplements by a multilevel advertising scheme.
However many of those hopeful members declare they had been duped into shopping for gross sales programs and opening credit score traces of as much as 250,000 baht (US$7,500) to amass extra merchandise, all within the identify of climbing the corporate’s ranks and main their very own gross sales groups.
As new recruits signed up, they expanded their networks, making a sprawling net of contributors numbering between 300,000 and 400,000. But, when merchandise did not materialise or went unsold, numerous members noticed their financial savings worn out, attorneys for the victims allege.
In a tearful two-hour tv interview on Tuesday night time, Boss Paul was confronted by the widow of a person who took his personal life as a result of money owed incurred after signing as much as iCon.
“I’m so sorry in your loss,” he stated, weeping and vowing to compensate the victims.
“I’ll assist compensate them till my final baht … And if I run out of cash, I’ll work to search out cash to pay all of them again.”
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