Police raided the homes of leaders of an alleged pyramid scheme that defrauded thousands of poor residents in Thailand.

The Central Investigation Bureau swept through 11 target locations in Bangkok and nearby provinces to find additional evidence related to the iCon Group scheme on October 22.

The company founder Warathaphon Waratyaworrakul, also known as 'Boss Paul', was arrested and hauled to a Bangkok police station on October 16. Several celebrities were also named as company bosses.

The iCon Group allegedly scammed followers by roping them into a sales scheme where they were pressured to pay in their savings to sell health and dietary supplements.

The company attracted thousands of individuals by offering inexpensive online sales courses. However, once they enrolled, participants were asked for additional money to buy products, followed by larger financial commitments to help advertise for new recruits.

More than 1,100 people have filed fraud complaints against the iCon Group.

Police Lieutenant General Akkaradet Pimonsri, the assistant national police chief, said: 'During the investigation and court phase, the inquiry officer will not approve bail requests because this case has a severe penalty, involves a large number of victims, and is under the spotlight of the public.'