Third Tan Sri nabbed in MBI probe, say cops
Sources said the 53-year-old man was detained at about 2am on Thursday (May 1) in Penang after he returned from overseas.
Sources said the suspect is believed to be a proxy for the syndicate.
"He is also a business partner of some of the suspects and received profits from the investment scam for money laundering purposes," sources said.
Meanwhile, the IGP secretariat's Anti-Money Laundering (AMLA) division head Comm Datuk Muhammad Hasbullah Ali confirmed the arrest under Ops Northern Star.
ALSO READ: Cops nab another 'Tan Sri' over MBI investment scam
"However, we have not seized any belongings so far. We are still investigating the case further," he said.
Previously, it was reported that a 'Tan Sri' and a 'Datuk Seri' were the latest arrests under Ops Northern Star, which has now seen RM3.5bil in assets including a hotel and durian plantations linked to the MBI investment scheme being seized.
Comm Muhammad Hasbullah had said the 'Tan Sri' and 'Datuk Seri' were among five caught during the second round of arrests between April 18 and 21.
This brings the number of suspects arrested to 13, with eight previously caught between March 21 and April 5.
ALSO READ: Datuks held over MBI scam
'They (the latest arrested) have been remanded for between five and six days to assist investigations,' Comm Muhammad Hasbullah told a press conference at the division's headquarters here on Wednesday (April 30).
Among the assets seized this round were durian plantations in Pahang, Penang and Kedah worth RM223,624,167.75.
An additional 299 bank accounts with RM123,614,594.35 were also frozen, he said.
All these assets were believed to have been purchased or had links to the proceeds from the scheme's illegal gains.
Investigations showed that the 'Tan Sri', a businessman, had been acting as both partner to the investment scam and a proxy to the victims.
ALSO READ: More arrests expected in MBI scheme crackdown
As of now, no other influential figures such as politicians are on the police's radar and others who were being pursued are businessmen, said Comm Muhammad Hasbullah.
Previously, the police arrested another 'Tan Sri' and further checks showed that he had no direct links to the scam, but he had actually attempted to swindle one of the suspects.
Investigations showed that the 'Tan Sri' had offered to make the suspect's case 'go away' for RM25mil.
'The suspect had paid RM10mil as a deposit,' said Comm Muhammad Hasbullah, adding that the suspect told the police of the deal when he was arrested.
The 'Tan Sri' was later picked up following the suspect's police report.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
14 hours ago
- The Star
HSS clears Baghdad Metro hurdle, cashflow improves
CGSI Research also noted that Iraq's infrastructure market offered opportunities and the Najat-Karbala rail project could be the next project win. PETALING JAYA: A major hurdle has been cleared for HSS Engineers Bhd 's Baghdad Metro project, paving the way for earnings recovery and improving operating cashflows in the second half of this year. In a report to clients, CGS International (CGSI) Research also noted that Iraq's infrastructure market offered opportunities and the Najat-Karbala rail project could be the next project win. 'Despite the geopolitical conflict in the Middle East, HSS believes the market represents an opportunity. It is looking to entrench its exposure in Iraq with the formalisation of another project, the Najaf-Karbala rail project, worth US$5.35bil. 'The company said it has learned from the initial teething problems for the Baghdad Metro and will ensure all processes are in place and will raise the performance bond within 21 days from the signing of the contract,' said the research house. Meanwhile, the railway scheme approval for Malaysia's Mass Rapid Transit 3 (MRT 3) in July and should pave the way for civil package awards in late 2026, it added. Citing an analyst meeting on Aug 8, CGSI Research said it learned that a major hurdle to its Baghdad Metro project had been cleared as it received the completion certificate, officially issued by the mayoralty of Baghdad, for the first 10% milestone payment of RM10mil on July 16. After Baghdad's Planning Ministry's approval, the research house said the next steps would be more commercial in nature while the timeline for the monies to be paid may range from 21 to 41 days. It viewed this positively as this has been the key overhang for the share price, leading to a 47% derating over a 12-month period. 'As such, we expect better earnings delivery in the second half of this year and, more importantly, operating cash flow should swing back to the black in the fourth quarter of 2025 after showing negative RM12.6mil in the first quarter. 'Additionally, with all the requirements met in order to receive this first payment (performance bond, opening of branch office and registration of local company), we expect the subsequent milestone payments to be much quicker.' it said. CGSI Research noted until June 25, the project management consultancy work for the Baghdad project had reached 45% and is slated for completion by end-2025.
The Sun
a day ago
- The Sun
Ipoh City Council warns against fake kiosk application agents
IPOH: The Ipoh City Council (MBI) has denied appointing any intermediaries to handle kiosk applications within its jurisdiction. A statement issued today clarified that recent social media posts claiming individuals could facilitate such applications for a fee of RM1,500, including licence costs, are false. MBI emphasised that these promotions are misleading and urged the public to remain cautious. 'The council will not be liable for any losses suffered by those who engage with these unauthorised offers,' the statement read. Residents seeking accurate information on stall applications are advised to contact the Hawker Management Unit under MBI's Department of Public Health and Municipal Services. MBI also warned of legal action against parties misusing its name or damaging its reputation through false claims. – Bernama
The Star
2 days ago
- The Star
Inta Bina bags RM265mil development job
PETALING JAYA: Inta Bina Group Bhd has accepted a letter of award from GDP Architects Sdn Bhd, on behalf of 368 Segambut Sdn Bhd and a joint venture between IJM Land Bhd and FCW Holdings Bhd , for main building works worth RM264.5mil. In a filing with Bursa Malaysia, the construction company said the project is for a proposed development of two 40-storey service apartment blocks (comprising 1,143 apartment units). 'The contract period shall be for a period of 38 months from the date of commencement on Aug 18, 2025, and overall completion date shall be on Oct 17, 2028,' said Inta Bina. Barring any unforeseen circumstances, the company said the contract is expected to contribute positively towards the future earnings of Inta Bina for the duration of the contract. 'The group intends to fund the contract via internally generated funds and/or external borrowings. There are no foreseeable significant risks other than operational risk associated with the contract during the construction period,' it said. For its first quarter ended March 31, 2025, Inta Bina's net profit rose to RM10mil from RM7.05mil in the previous corresponding quarter while revenue grew to RM194.6mil from RM156mil a year earlier. PETALING JAYA: Inta Bina Group Bhd has accepted a letter of award from GDP Architects Sdn Bhd, on behalf of 368 Segambut Sdn Bhd and a joint venture between IJM Land Bhd and FCW Holdings Bhd, for main building works worth RM264.5mil. In a filing with Bursa Malaysia, the construction company said the project is for a proposed development of two 40-storey service apartment blocks (comprising 1,143 apartment units). 'The contract period shall be for a period of 38 months from the date of commencement on Aug 18, 2025, and overall completion date shall be on Oct 17, 2028,' said Inta Bina. Barring any unforeseen circumstances, the company said the contract is expected to contribute positively towards the future earnings of Inta Bina for the duration of the contract. 'The group intends to fund the contract via internally generated funds and/or external borrowings. There are no foreseeable significant risks other than operational risk associated with the contract during the construction period,' it said. For its first quarter ended March 31, 2025, Inta Bina's net profit rose to RM10mil from RM7.05mil in the previous corresponding quarter while revenue grew to RM194.6mil from RM156mil a year earlier.
