BANGKOK: The Anti-Money Laundering Office (AMLO) has issued an order to seize 11 assets linked to “Boss Paul-Kant Kantathaworn” and his associates, following a report by the Consumer Protection Police Division implicating them in fraudulent activities. The seized assets include various accounts and digital assets worth approximately 125.5 million baht.
According to Thai News Agency, the AMLO acted based on findings from the Consumer Protection Police Division regarding The Icon Group Co., Ltd. and its associates for offenses under the Fraudulent Borrowing Act B.E. 2527. Investigations revealed potentially illicit asset transfers and concealments, prompting the AMLO Secretary-General to utilize Section 48, paragraph two of the Anti-Money Laundering Act B.E. 2542, to issue Order No. Y. 214/2567. This order targets assets in securities trading accounts, current and savings accounts, and digital asset trading accounts owned by The Icon Group Co., Mr. Woraratpol Woratworakul, Mr. Nichapon Thongmee, Ms. Thitthaya
Hong-upathumchai, and Mr. Kant Kantathaworn.
The operation underscores AMLO’s commitment to stringent enforcement against financial crimes. The office has issued a notice to the implicated property owners demanding clarification within 30 days. Additionally, AMLO warns that any transfer, receipt, or alteration of condition of assets aimed at hiding their origin, or any action that aids in evading or reducing punishment for the related offense, will be treated as money laundering. This crime carries penalties ranging from one to ten years in prison, or a fine of twenty thousand to two hundred thousand baht, or both.
A source confirmed that evidence was found indicating significant asset transfers and withdrawals by the four individuals, leading to the immediate freezing of their assets to prevent further damages. The Icon Group case will be reviewed by the Transaction Committee on October 17th for further investigation into the assets.