RM3.8bil in assets seized in MBI investment scam probe
KUALA LUMPUR : Police have seized and frozen additional assets worth RM527.5 million linked to the MBI International Group investment scam, raising the total value of seized assets in the case to RM3.8 billion.
Bukit Aman commercial crime investigation department (CCID) acting director Hasbullah Ali said the latest seizures followed the arrest of three individuals in Penang and Kuala Lumpur earlier this month, one of whom is a businessman with a 'Tan Sri' title.
'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 at Menara KPJ here today.
He added that 37 bank accounts containing RM328 million were frozen. Other confiscated items include three luxury vehicles worth RM637,000, RM283,070 in cash, and various watches, jewellery, mobile phones and documents.
According to Hasbullah, five business entities tied to the scam have also been seized, including a durian plantation company, a property developer, and a hotel operator.
He said more arrests and asset seizures are expected as investigations are still ongoing.
When asked if any politicians were involved, Hasbullah said investigations have not found any evidence of a political connection, as yet.
The latest development is part of Op Northern Star, a major police operation targeting financial syndicates operating in the Klang Valley and northern Peninsular Malaysia.
To date, 17 individuals have been arrested and 988 bank accounts frozen under the operation. All suspects are believed to be linked to a cross-border Ponzi-style investment scheme operated by MBI group.
Scam call centres busted
Hasbullah also said two phone scam syndicates targeting Japanese nationals were busted in Kajang and Cheras on May 13. Devices worth RM25,000 were seized during the raids.
In Kajang, six Japanese nationals and two Chinese men were arrested at a three-storey bungalow used as a call centre. The syndicate, which had been active for about two months, used spoofed calls through the Bria Mobile app to impersonate Osaka police officers and trick victims into transferring money.
Two Chinese suspects were charged on May 22, while the six Japanese suspects are expected to be charged on June 3.
In Cheras, 11 individuals — seven Japanese and three Taiwanese — were arrested during raids at two condominium units. Police seized laptops, mobile phones, fake police uniforms, and documents worth RM20,000. The syndicate used apps such as Got Further and Swapface to impersonate law enforcement and extort cryptocurrency from victims.
Three Taiwanese suspects were charged on May 16, while the remaining eight individuals have been listed as prosecution witnesses.
In a separate case, Hasbullah said a special task force has been established and will be based at KLIA to combat haj package fraud during the pilgrimage season.
Hasbullah noted that while the number of cases has dropped from 11 in 2023 to four in 2024, the total losses increased to RM874,100. One case reported this year involved losses amounting to RM71,000.
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