With two prominent businessmen already in custody, police are now focusing on a third “Tan Sri” as investigations into the Mobility Beyond Imagination (MBI) money laundering scheme deepen.
The latest businessman, said to be in his 50s, is expected to be called in for questioning upon his return to Malaysia.
On Monday, police arrested a 62-year-old “Tan Sri” at his George Town residence. During the raid, officers also seized a white Rolls-Royce Ghost and a Ford Ranger Raptor. This same businessman had previously been detained for questioning last month but was released on the same day.
The Penang-based businessman, who owns a yacht docked at Straits Quay Yacht Club, is the managing director of a company with multi-billion housing and road projects in Penang, Perak and Kedah.
A few years ago, his company had shown interest in developing the Kulim International Airport (KXP), but the deal was terminated after it failed to comply with the agreement.
Another “Tan Sri” businessman based in Kuala Lumpur was also nabbed for acting as a proxy for scammers.
The 60-year-old man, who is the chairman of an oil and gas company, was arrested last month.
The Inspector General of Police secretariat’s anti-money laundering division head Comm Datuk Muhammad Hasbullah Ali had said in Tuesday’s press conference that this “Tan Sri” was not directly involved in the syndicate, but had duped a suspect into paying money to avoid arrest.
“The deal was originally for RM25mil and the suspect paid RM10mil as deposit.
“When he was arrested, the suspect told police that he had paid the money,” he said, adding that the suspect then made a police report.
“We arrested this ‘Tan Sri’ and the money paid was recovered.”
On Tuesday, Comm Muhammad Hasbullah added that five suspects had been nabbed from April 18 to April 21 during the second round of Ops Northern Star.
Among the assets seized included durian plantations in Pahang, Penang and Kedah worth RM223,624,167.75.
“A total of 299 bank accounts worth RM123,614,594.35 were also frozen,” he said during the press conference.
He added that police have been investigating the MBI case for over seven years. Based on an Interpol Red Notice, there are around 11 million victims from neighbouring countries.
Among the five recently arrested is a Penang-based “Datuk Seri,” believed to be an architect involved in an abandoned RM10bil development project. He is a well-known figure in the state.
In the first phase of the operation last month, police detained two Penang-based lawyers, both holding “Datuk” titles. Authorities seized several documents related to stock transactions and real estate deals.
A well-known “Datuk Seri” property tycoon and his wife were also nabbed in Kedah during that time.
Last August, MBI founder Tedy Teow was deported from Thailand to China to assist the Chinese government’s investigation in his role in the pyramid scheme.
It was reported that some two million Chinese nationals had been duped by Teow involving a sum of 500 billion yuan (RM300bil).
During its peak, MBI was said to have collected several billions from investors. But when the pyramid scheme collapsed in 2018 after a raid by Bank Negara, depositors were left with nearly no chance of recouping their losses.
It is believed that the recent police action to haul up several prominent businessmen was based on the exchange of intelligence between Bukit Aman and its Chinese counterpart following Teow’s interrogation.
Source : The Star
Thailand Extradites Malaysian Businessman To China in RM Billion Fraud Case
Thai authorities extradited a Malaysian businessman to China on fraud charges worth nearly U.S. $14 billion that were tied to an alleged crypto-currency pyramid scheme, the Chinese government and a Malaysian official confirmed Monday.
Source : Benarnews
‘Tan Sri’ and ‘Datuk Seri’ among five more arrested in MBI scam as cops seize RM3.5b in assets including three durian orchards
The federal police have arrested five more local men, including a businessman with the title “Tan Sri” and another with the title “Datuk Seri, in their investigation of the alleged MBI Group International scam.
Datuk Muhamed Hasbullah Aliq, head of the Money Laundering Crime Investigation Team of the Office of the Inspector-General of Police, said all individuals are currently under remand for five to six days to assist in the ongoing investigation.
“Following information obtained from the first operation and further investigations, the task force carried out a second series of operations in the Klang Valley and northern regions of Peninsular Malaysia from April 18 to April 21,” he said in a press conference at Menara KPJ here.
Hasbullah said that the “Tan Sri” and “Datuk Seri” detained believed to be partners and proxy of the scam operations.
He added that freezing and seizure actions were carried out on various assets and properties believed to be linked to the investment scam.
The list of newly seized, frozen and confiscated items are:
- Durian orchards estimated worth RM223,624,167.75 at three sites: 850 acres in Raub, Pahang; 13 acres in Jawi, Penang; and 34 acres in Tasek, Kedah
- 299 bank accounts with a total value of RM123,614,594.35
- 12 luxury vehicles
- one luxury wristwatch
- an undisclosed amount of cash in Malaysian ringgit
- five mobile phones
- one computer unit
- various important documents
The total estimated value of all frozen and seized assets after the second operation is now RM3,513,304,957.84.
“Additionally, the task force seized three businesses under Section 52 of the Anti-Money Laundering Act (Act 613).
“The businesses include a palm oil processing factory in Selama, Kedah, a hotel in Penang, and a property development company also based in Penang,” he said.
Hasbullah said his department will continue investigations and take action against any individuals or entities linked to assets derived from illegal investment fraud activities.
On March 20, the police carried out an enforcement initiative known as Ops Northern Star, following a red notice issued by Interpol.
Inspector-General of Police Tan Sri Razarudin Husain said police arrested eight individuals, including four with the title of Datuk, in connection with the MBI scam and seized RM3.17 billion worth of assets.
Authorities had then frozen 638 bank and share accounts worth RM1,160,166,195.74. They also seized 35 properties valued at RM2,005,900,000.
Other confiscated items included 10 luxury cars, 12 luxury watches and cash in both local and foreign currencies.
The detained individuals, aged between 44 and 62, included two businessmen and two lawyers.
Last year, authorities extradited MBI founder Tedy Teow from Thailand to China to assist in investigations involving Chinese victims of the scheme.
MBI reportedly attracted investors from Malaysia, China, Thailand, Indonesia, and Macau through dubious online investment schemes.
Teow operated various businesses, including a hotel, theme park, resort, furniture outlet, and property development projects in Danok, near the Thailand-Malaysia border.
As of the latest tonight, sources mentioned Eddie Ong and wife, Dato Keh Chuan Seng or known as Ramen (mentioned in this blog’s April 9th posting), ECK’s Tan Sri Khor Eng Chuen, and owner of Chin Hin Berhad, Dato Sri Chiau Beng Teck.
[Read Corporate Secret https://www.the-corporatessecrets.com/blog/2025/04/23/bagaimana-ceo-hextar-group-dalang-bersama-tan-sri-tan-kean-soon-t7-global-tan-sri-khor-kroni-mb-kedah-terima-wang-haram-lebih-rm3b-scammer-tedy-teow-mbi/]
The figures mentioned for all named total RM7.6 billion. Words are the whole scam involved RM11 billion. Bursa Malaysia felled by 13.22 points today.
NST reported the fall to quote attention seeking analyst and fund manager was due to “uncertain direction of US trade policy, concerns over the Federal Reserve’s independence and recent downward revisions to corporate earnings forecasts for the first quarter of 2025.”
There was announcement from the US Department of Commerce on tariff slapped for solar panel from Malaysia. Donny wants to drill baby drill and non of the “hoax” environmental renewable stuff.
Gordon Gecko said in the movie Wall Street that analysts know shit and couldn’t tell the difference between livestock and loan stock or something.
They will probably know by tomorrow. Damn slow cause this blog been rewriting about MBI since March 26th. Almost an effing month ago!
This blogger is telling now that this is just the beginning. The widespread existence of scammers including those linked to MBI and Corporate Mafia have been the conversation at the highest international level.
Source : Thick Brick Blogspot
11 million victims over the past eight years
Mobility Beyond Imagination (MBI) is believed to have defrauded more than 11 million victims over the past eight years, according to Bukit Aman’s Anti-Money Laundering Crime Investigation (Amla) Unit.
Its chief, Datuk Muhammed Hasbullah Ali, said the majority of the victims were from a neighbouring country.
“Based on our investigations, MBI attempted to create a new ecosystem in which investors were awarded points that could be redeemed for purchases through businesses affiliated with the group.
“In essence, they were operating a Ponzi scheme, duping over 11 million victims from a neighbouring country. This information was obtained via a Red Notice issued by Interpol,” he told reporters today.
When asked about the possibility of extraditing MBI founder and Malaysian businessman Tedy Teow Wooi Huat — currently in police custody in China — Muhammed Hasbullah said the immediate priority was to complete investigations in Malaysia.
“We also need to consider that Malaysia only has extradition treaties with certain countries, so we must assess what follow-up actions can be taken.
Source : NST
The Coverage Malaysia
