Bangkok: The Anti-Money Laundering Office (AMLO) has seized and temporarily frozen assets belonging to The Icon Group and its associates, totaling an estimated 48.9 million baht. The assets include shares in securities trading accounts, money in securities trading accounts, and deposit accounts, with the seizure set for a period not exceeding 90 days.
According to Thai News Agency, the AMLO’s decision follows the Secretary-General’s order No. 214/2567 and the Transaction Committee’s order No. 222/2567, which cited evidence suggesting potential asset transfers, concealment, or hiding related to offenses. The orders authorized the temporary seizure of assets worth 127,086,381.51 baht from The Icon Group Co., Ltd. and its associates. In light of urgent necessity, the Secretary-General exercised authority under Section 48 of the Anti-Money Laundering Act B.E. 2542, issuing Order No. 223/2567 to seize additional assets estimated at 48,958,234.26 baht.
Reports indicate that a transfer involving cryptocurrency, sp
ecifically USTD, valued at over 8 billion baht, may be linked to the case. The AMLO, in collaboration with the Royal Thai Police, is investigating these transactions. Should evidence of such transactions be found, appropriate legal action will be pursued.
The AMLO has reiterated that individuals involved in the transfer, concealment, or modification of assets linked to offenses, either to hide their origin or to assist others in avoiding or reducing penalties, may face charges under the Anti-Money Laundering Act. Convictions can result in imprisonment ranging from one to ten years, fines between twenty thousand to two hundred thousand baht, or both.