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NEWS: Thai police say 18 arrested as alleged pyramid scheme losses near $50M

A sticker reads, "The iCON group Paul", on a seized luxury car parked at Central Investigation Bureau (CIB), after Thai police arrested 18 people and seized luxury goods after receiving nearly thousands of complaints about an alleged pyramid scheme in Bangkok, Thailand, October 21, 2024. REUTERS/Athit Perawongmetha

By Panarat Thepgumpanat and Chavut Sethboonsarng  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 Investigation Bureau (CIB) said it had seized assets worth 225 million baht,…

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