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DSI maintains iCon Group’s business is a pyramid scheme

DSI maintains iCon Group’s business is a pyramid scheme

17 Sept 11:19 Key points summarised by AI
  • The DSI's screening committee officially classified iCon Group’s business model as a pyramid scheme, violating the Emergency Decree on Borrowing.
  • The committee recommended DSI file charges of operating a pyramid scheme against iCon Group executives and core members, who are already facing public fraud charges.
  • DSI is separating the pyramid scheme case from an ongoing money laundering investigation and is collaborating with the attorney-general and external experts.
  • Authorities are investigating allegations against some investors claiming losses and have seized assets, including a Mercedes Benz linked to one of the detained suspects.
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