Ideal Property Group denies chairman linked to MBI scam, lodges report over ‘false and malicious' claims

Malay Mail

30-04-2025

GEORGE TOWN, April 30 — The Ideal Property Group has dismissed allegations circulating on social media claiming the investigation and arrest of its group executive chairman in connection with the authorities' investigation into the scam linked to MBI International Group (MBI).
Ideal Property Group, in a statement today, stressed that the group operates with strict adherence to the law and ethical business principles, while the organisation is committed to maintaining the highest levels of professional integrity and operational transparency.
'Recently, Ideal Property Group has come across fake news and false postings on uncredited social media, falsely alleging the investigation and arrest of our group executive chairman in connection with the authorities' investigation into the MBI Group.
'Ideal Property Group strongly refutes the false and malicious allegations and categorically denies these baseless and defamatory statements,' according to the statement posted on Facebook.
To address this, Ideal Property Group has lodged a report with the Malaysian Communications and Multimedia Commission (MCMC), the police and will take immediate legal action to protect its reputation.
The group also pledged to continue to exhibit solid operational performance and maintain its unwavering focus on executing current projects and fulfilling all obligations to its various stakeholders with excellence.
On April 22, police arrested five more individuals, including two bearing the titles Tan Sri and Datuk Seri, believed to be proxies and business associates involved in a Ponzi-type investment scam linked to MBI.
Head of the Criminal Investigation Team on Money Laundering (AMLA) under the Inspector-General of Police's Secretariat (USKPN), Datuk Muhammed Hasbullah Ali, said that besides arresting the five individuals, police have also seized three durian orchards spanning nearly 900 acres, valued at RM223,624,167, located in Raub, Pahang; Jawi, Penang; and Tasek, Kedah.
Inspector-General of Police Tan Sri Razarudin Husain was previously reported to have said that eight individuals were arrested and assets worth RM3.17 billion were seized in connection with the fraudulent scheme.
Razarudin said the arrests were part of a cross-border operation launched following information obtained via an Interpol Red Notice. — Bernama