KUALA LUMPUR: 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.
