In recent months, Thailand has witnessed a surge in scandals surrounding get-rich-quick schemes, prominently featuring the K2N gold shop and the iCon Group. Kornkanok Suwanbut, known as 'Mae Tak,' and her husband Kanpon Rueangaram, owners of the K2N gold shop in Klong Sam Wa, Bangkok, have been accused of selling fraudulent gold products. With over 4.6 million followers on social media, the couple faced backlash from customers demanding refunds after discovering that the gold items they purchased were not authentic. Following a televised confrontation, customers queued for refunds, revealing widespread discontent with the couple's previously charitable image. [6902f380]
Experts conducted gold purity tests on K2N's products, revealing alarming results: the items contained only 71.58% and 92.08% purity, significantly below the standard for genuine gold. Over 150 customers have filed complaints with the Central Investigation Bureau, highlighting the scale of the deception. In response, K2N has offered refunds but with legal action waivers, leaving many customers feeling further deceived. This scandal raises serious questions about consumer rights and the responsibilities of influencers in the marketplace. [6902f380]
Simultaneously, the iCon scandal has emerged, involving allegations of a pyramid scheme orchestrated by the iCon Group, founded by Waratpol Waratworakul, also known as 'Boss Paul.' The scheme has reportedly claimed over US$300 million in revenue and attracted 400,000 members, leading to more than 740 complaints and estimated losses of US$8 million. Victims have reported being misled into purchasing sales courses and incurring debts of up to 250,000 baht (approximately US$7,500). [9a626f75]
Boss Paul publicly vowed to compensate victims after a confrontation on television, but the fallout continues as legal battles are anticipated with more victims coming forward. The scheme gained traction during the COVID-19 pandemic, with celebrity endorsements playing a significant role in attracting new members. These incidents underscore the need for greater transparency and accountability in influencer marketing and consumer protection in Thailand. [9a626f75]