On February 16, 2026, Thailand’s Attorney General overruled the Special Prosecutor’s Office and indicted celebrities Yuranunt “Sam” Pamornmontri and Pechaya “Min” Wattanamontree on fraud and pyramid scheme charges linked to the iCon Group scandal, Bangkok Post. The Department of Special Investigation (DSI) had pushed for prosecution, arguing the pair acted as “bosses” beyond mere presenters. Both celebrities, arrested in October 2024 and released on bail in September 2025, will now face arraignment in the Criminal Court, with detention possible if they fail to appear, Thaipbs.
iCon Group, an MLM pyramid scheme, defrauded victims of over 2 billion baht (~$61.8 million USD), with more than 2,170 complaints filed by October 2024, according to Wikipedia and Bangkok Post. Eighteen suspects were arrested in late 2024; 17 were indicted in January 2025 and remain in custody, while the two celebrities were initially cleared due to insufficient evidence. The scheme involved recruitment and investment promises that collapsed, leaving thousands of victims, Thaipbs.
The DSI continues probing the remaining suspects, with no further public updates on victim claims or additional indictments since February 2026, Bangkok Post. iCon Group’s collapse highlights risks in MLM crypto schemes, similar to other Thai cases. Traffic to related sites remains low, but the indictment signals stronger enforcement. X posts from @ThaiPBSWorld note the Attorney General’s reversal as a key development.
Investors should avoid MLM platforms promising high returns and verify schemes via Thailand’s DSI or SEC equivalents. Bitcoin (BTC) ($113,234) and Ethereum (ETH) ($4,070) remain stable, according to CoinMarketCap, but such frauds underscore crypto risks. Diversify into regulated assets like USDC with stop-losses below BTC’s $112,000, TradingView. Follow official Thai sources and @TheBlock__ on X for updates. The case may deter similar schemes, strengthening consumer protections in Thailand by 2026.
