Tag: Thailand

Thai police say 18 arrested as alleged pyramid scheme losses near $50 million

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BANGKOK (Reuters) - Thai police have arrested 18 people and seized luxury goods after receiving nearly 5,600 complaints about an alleged pyramid scheme, saying on Monday they estimate investors have lost at least 1.61 billion baht ($48 million). The Central…[Continue Reading...]

Thailand’s iCon scandal shows enduring popularity of get-rich-quick schemes

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A police investigation into an alleged pyramid scheme that claimed revenues of more than US$300 million and attracted hundreds of thousands of members highlights a lucrative yet deceptive business model that’s becoming increasingly popular in Thailand – leveraging celebrity endorsements…[Continue Reading...]

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