MBI investment scam crackdown: 477 properties, RM328m frozen as cops nab ‘Tan Sri' in billion-ringgit bust
Bukit Aman commercial crime investigation department (CCID) acting director Datuk Seri Muhammed Hasbullah Ali said the latest seizures followed the arrest of three individuals earlier this month in Penang and Kuala Lumpur, including a businessman with a 'Tan Sri' title, according to a report published in Free Malaysia Today.
'Among the seized assets are 477 properties valued at approximately RM150 million, four condominium units worth RM12 million, as well as four luxury yachts and three passenger boats worth RM36.3 million,' Hasbullah said at a press conference today.
He added that 37 bank accounts holding RM328 million were frozen, and that authorities also confiscated three luxury vehicles worth RM637,000, RM283,070 in cash, and various items including watches, jewellery, mobile phones, and documents.
Five business entities allegedly tied to the scam were also seized, including a durian plantation company, a property developer, and a hotel operator.
Hasbullah said further arrests and asset seizures are expected as investigations under Op Northern Star continue.
When asked about political involvement, Hasbullah said there was no evidence of any such connection at this stage.
The operation, which targets financial syndicates in the Klang Valley and northern Peninsular Malaysia, has so far seen 17 people arrested and 988 bank accounts frozen.
The suspects are believed to be part of a cross-border Ponzi-style investment scheme operated by the MBI group.
Separately, police also busted two phone scam syndicates targeting Japanese nationals in Kajang and Cheras on May 13, seizing electronic devices worth RM25,000.
In Kajang, six Japanese and two Chinese nationals were arrested at a three-storey bungalow used as a call centre, where they impersonated Osaka police using spoofed calls via the Bria Mobile app.
Two Chinese suspects have been charged, while the six Japanese suspects will face charges on June 3.
In Cheras, 11 people — seven Japanese and three Taiwanese — were arrested, with police seizing laptops, mobile phones, fake police uniforms, and documents valued at RM20,000.
Three Taiwanese suspects have been charged, while the remaining eight will serve as prosecution witnesses.
Hasbullah also said a special task force will be stationed at KLIA to tackle Haj package fraud during the pilgrimage season, following reports of RM874,100 in losses across four cases this year.
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