Bangkok: The Department of Special Investigation (DSI) has dispatched a team to the Fiscal Policy Office to investigate the allegations against ‘The Icon’ regarding its involvement in a pyramid scheme. The investigative team seeks to gather comprehensive information concerning the business model, financial statements, and potential corruption plans of ‘The Icon’ to determine if they align with the characteristics of a pyramid scheme.

According to Thai News Agency, the case of “The Icon Group” has been classified as a special investigation by the DSI, yet no prosecution has been initiated under the Emergency Decree on borrowing money that defrauds the public or under pyramid scheme regulations. Pol. Lt. Col. Woranan Srilam, Director of the Informal Financial Business Division and DSI Spokesperson, revealed that Pol. Lt. Col. Yuthana Phraedam, the Acting Director-General of DSI, instructed the Director of the Consumer Protection Case Division and investigators to meet with representatives from the Fiscal Polic
y Office. The meeting aimed at securing cooperation to scrutinize whether the company’s practices fulfill the criteria of a pyramid scheme.

The investigation process involves extensive inquiry and collaboration with various agencies to ensure a thorough examination. The determination of whether ‘The Icon’ falls under the Royal Decree on Fraudulent Borrowing from the Public B.E. 2527 (1984) involves careful consideration of three specific elements, which are yet to be fully assessed.