Tuesday, July 23, 2019

Bt39m of assets seized in Magic Skin scandal

Dec 13. 2018
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By The Nation

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The Anti-Money Laundering Office (AMLO) has seized Bt19 million cash and two luxury cars worth Bt10 million each in the scandal involving Magic Skin Co for allegedly supplying substandard cosmetics and weight- loss products.

AMLO acting secretary-general Preecha Chareonsahayanon said on Thursday that the case would continue and complaints would not be withdrawn, as some people had feared.

He said the case would proceed and more ill-gotten assets would be confiscated as AMLO's investigation followed the evidence. 

Authorities would soon file a false advertising charge against 50 celebrities who allegedly promoted products for Magic Skin, Preecha said.

Preecha also said that the victims nationwide could present their evidence of damage to the AMLO to request a share of the seized assets. He said such requests could be submitted now or within 30 days after an announcement on the matter is published in the Royal Gazette.

Preecha also said authorities were checking claims that Magic Skin associates continued to use nominees in producing and distributing products, which is an act of fraud.

The popular Magic Skin products are under a cloud over reports earlier this year that the brand manufactured substandard cosmetics and boosted their profile by hiring celebrities to endorse them. 

Police have found that nearly 1,000 people were affected by the alleged substandard products, which caused damages worth around Bt300 million. Charges have been laid against Magic Skin owner Wannapha Puangson and her husband Korn Puangson, as well as other business associates, including conspiring to produce and distribute products in violation of the Cosmetics Act and Food Act.

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