Pyramid schemes are a form of investment scam that has been around for decades, yet they continue to resurface in various guises, often ensnaring unsuspecting individuals looking for financial opportunities.
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Pyramid schemes are a form of investment scam that has been around for decades, yet they continue to resurface in various guises, often ensnaring unsuspecting individuals looking for financial opportunities. The recent case involving The iCon Group serves as a stark reminder of the potential dangers associated with such schemes.
According to reports, The iCon Group’s alleged pyramid scheme has resulted in damages exceeding 118 million baht, with over 300 victims coming forward in Thailand alone. The scheme, which promised high returns on investments in health and wellness products, relied heavily on the recruitment of new members rather than the sale of actual products—a classic hallmark of a pyramid scheme.
The situation escalated as victims from neighboring countries such as Laos, Cambodia, Myanmar, and even Japan came forward, bringing the number of complainants to over 500 and…