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[blogdigest]

Another ‘Tan Sri’ Arrested Over MBI Ponzi Scheme

Police have arrested another individual with the title 'Tan Sri' suspected of involvement in the MBI International Group Ponzi scheme investment fraud, marking the latest development in the ongoing investigation.

Acting Director of Bukit Aman's Commercial Crime Investigation Department Datuk Muhammed Hasbullah Ali confirmed the 53-year-old Penang property company chairman was detained on Thursday and remanded for five days to assist investigations.

"The suspect's office, residence, and relevant documents have been searched for evidence," he told Bernama, adding that further arrests haven't been ruled out as investigations continue, with a press conference to be held soon to provide updates.

The suspect is believed to have acted as a proxy or partner in laundering illicit funds for the syndicate. This follows the April 18-21 ‘Op Northern Star’ that saw five individuals, including another 'Tan Sri' and 'Datuk Seri', arrested across the Klang Valley and northern Malaysia.

Authorities have also seized RM223.62 million worth of durian orchards (344ha in Raub, Pahang; 5.26ha in Jawi, Penang; and 13.76ha in Tasek, Kedah), frozen 299 bank accounts (RM123.61 million), and confiscated 12 luxury vehicles, a high-end watch, five mobile phones, and crucial documents.

Additional seizures include a palm oil processing plant in Selama, Kedah, a hotel, and a Penang property development company, bringing total confiscations from both operations to RM3.51 billion.

[thepenlive]

Another ‘Tan Sri’ Arrested in MBI Ponzi Scheme Investigation

KUALA LUMPUR, May 3 — Malaysian authorities have intensified their crackdown on financial fraud with the arrest of another high-profile individual linked to the controversial MBI International Group Ponzi scheme.

The suspect, a 53-year-old chairman of a property company based in Penang, was detained by police as part of ongoing investigations into large-scale investment fraud. According to officials from the Commercial Crime Investigation Department (CCID) at Bukit Aman, the individual has been remanded for five days to assist with inquiries.

Expanding Investigation

Law enforcement authorities confirmed that searches have been conducted at the suspect’s residence and office. Investigators also seized documents and other materials believed to be relevant to the case.

The suspect is believed to have played a key role in facilitating financial transactions for the syndicate, possibly acting as a proxy or collaborator in laundering illicit funds generated through the scheme.

Officials have not ruled out further arrests as the investigation continues to unfold. Authorities are expected to provide additional updates in a forthcoming press conference.

Background: The MBI Ponzi Scheme

The MBI International Group has been at the center of one of the region’s largest alleged Ponzi schemes, reportedly involving billions of ringgit and affecting numerous investors across multiple countries.

The latest arrest follows a major enforcement operation known as “Op Northern Star,” conducted between April 18 and April 21. During that operation, five individuals—including other high-ranking figures with titles such as “Tan Sri” and “Datuk Seri”—were apprehended across the Klang Valley and northern Malaysia.

Massive Asset Seizures

Authorities have also carried out significant asset seizures linked to the case. Among the confiscated assets are:

Durian plantations spanning hundreds of hectares in Pahang, Penang, and Kedah

Nearly 300 bank accounts containing substantial funds

Luxury vehicles and high-value personal items

A palm oil processing facility in Kedah

A hotel and a property development company in Penang

The total value of assets seized from the investigation has reached approximately RM3.51 billion, underscoring the scale and complexity of the alleged fraud operation.

Ongoing Efforts

Authorities emphasized that the investigation is still ongoing, with efforts focused on uncovering the full network behind the scheme and recovering misappropriated funds.

The case highlights the continued vigilance of Malaysian enforcement agencies in tackling financial crimes, particularly those involving large-scale investment fraud and money laundering.