Latest news with #304
Yahoo
22-04-2025
- Business
- Yahoo
Bukit Aman: ‘Tan Sri' and ‘Datuk Seri' among five more arrested in MBI scam as cops seize RM3.5b in assets including three durian orchards
KUALA LUMPUR, April 22 – The federal police have arrested five more local men, including a businessman with the title 'Tan Sri' and another with the title 'Datuk Seri, in their investigation of the alleged MBI Group International scam. Datuk Muhamed Hasbullah Aliq, head of the Money Laundering Crime Investigation Team of the Office of the Inspector-General of Police, said all individuals are currently under remand for five to six days to assist in the ongoing investigation. 'Following information obtained from the first operation and further investigations, the task force carried out a second series of operations in the Klang Valley and northern regions of Peninsular Malaysia from April 18 to April 21,' he said in a press conference at Menara KPJ here. Hasbullah said that the 'Tan Sri' and 'Datuk Seri' detained believed to be partners and proxy of the scam operations. He added that freezing and seizure actions were carried out on various assets and properties believed to be linked to the investment scam. A display showing luxury items and vehicles seized during Op Northern Star. April 22, 2025 — Picture by Raymond Manuel The list of newly seized, frozen and confiscated items are: Durian orchards estimated worth RM223,624,167.75 at three sites: 850 acres in Raub, Pahang; 13 acres in Jawi, Penang; and 34 acres in Tasek, Kedah 299 bank accounts with a total value of RM123,614,594.35 12 luxury vehicles one luxury wristwatch an undisclosed amount of cash in Malaysian ringgit five mobile phones one computer unit various important documents The total estimated value of all frozen and seized assets after the second operation is now RM3,513,304,957.84. 'Additionally, the task force seized three businesses under Section 52 of the Anti-Money Laundering Act (Act 613). 'The businesses include a palm oil processing factory in Selama, Kedah, a hotel in Penang, and a property development company also based in Penang,' he said. Hasbullah said his department will continue investigations and take action against any individuals or entities linked to assets derived from illegal investment fraud activities. A display showing cash and vehicles seized during Op Northern Star. April 22, 2025 — Picture by Raymond Manuel On March 20, the police carried out an enforcement initiative known as Ops Northern Star, following a red notice issued by Interpol. Inspector-General of Police Tan Sri Razarudin Husain said police arrested eight individuals, including four with the title of Datuk, in connection with the MBI scam and seized RM3.17 billion worth of assets. Authorities had then frozen 638 bank and share accounts worth RM1,160,166,195.74. They also seized 35 properties valued at RM2,005,900,000. Other confiscated items included 10 luxury cars, 12 luxury watches and cash in both local and foreign currencies. The detained individuals, aged between 44 and 62, included two businessmen and two lawyers. Last year, authorities extradited MBI founder Tedy Teow from Thailand to China to assist in investigations involving Chinese victims of the scheme. MBI reportedly attracted investors from Malaysia, China, Thailand, Indonesia, and Macau through dubious online investment schemes. Teow operated various businesses, including a hotel, theme park, resort, furniture outlet, and property development projects in Danok, near the Thailand-Malaysia border.
Malay Mail
22-04-2025
- Business
- Malay Mail
Bukit Aman: ‘Tan Sri' and ‘Datuk Seri' among five more arrested in MBI scam as cops seize RM3.5b in assets including three durian orchards
KUALA LUMPUR, April 22 – The federal police have arrested five more local men, including a businessman with the title 'Tan Sri' and another with the title 'Datuk Seri, in their investigation of the alleged MBI Group International scam. Datuk Muhamed Hasbullah Aliq, head of the Money Laundering Crime Investigation Team of the Office of the Inspector-General of Police, said all individuals are currently under remand for five to six days to assist in the ongoing investigation. 'Following information obtained from the first operation and further investigations, the task force carried out a second series of operations in the Klang Valley and northern regions of Peninsular Malaysia from April 18 to April 21,' he said in a press conference at Menara KPJ here. Hasbullah said that the 'Tan Sri' and 'Datuk Seri' detained believed to be partners and proxy of the scam operations. He added that freezing and seizure actions were carried out on various assets and properties believed to be linked to the investment scam. A display showing luxury items and vehicles seized during Op Northern Star. April 22, 2025 — Picture by Raymond Manuel The list of newly seized, frozen and confiscated items are: Durian orchards estimated worth RM223,624,167.75 at three sites: 850 acres in Raub, Pahang; 13 acres in Jawi, Penang; and 34 acres in Tasek, Kedah 299 bank accounts with a total value of RM123,614,594.35 12 luxury vehicles one luxury wristwatch an undisclosed amount of cash in Malaysian ringgit five mobile phones one computer unit various important documents The total estimated value of all frozen and seized assets after the second operation is now RM3,513,304,957.84. 'Additionally, the task force seized three businesses under Section 52 of the Anti-Money Laundering Act (Act 613). 'The businesses include a palm oil processing factory in Selama, Kedah, a hotel in Penang, and a property development company also based in Penang,' he said. Hasbullah said his department will continue investigations and take action against any individuals or entities linked to assets derived from illegal investment fraud activities. A display showing cash and vehicles seized during Op Northern Star. April 22, 2025 — Picture by Raymond Manuel On March 20, the police carried out an enforcement initiative known as Ops Northern Star, following a red notice issued by Interpol. Inspector-General of Police Tan Sri Razarudin Husain said police arrested eight individuals, including four with the title of Datuk, in connection with the MBI scam and seized RM3.17 billion worth of assets. Authorities had then frozen 638 bank and share accounts worth RM1,160,166,195.74. They also seized 35 properties valued at RM2,005,900,000. Other confiscated items included 10 luxury cars, 12 luxury watches and cash in both local and foreign currencies. The detained individuals, aged between 44 and 62, included two businessmen and two lawyers. Last year, authorities extradited MBI founder Tedy Teow from Thailand to China to assist in investigations involving Chinese victims of the scheme. MBI reportedly attracted investors from Malaysia, China, Thailand, Indonesia, and Macau through dubious online investment schemes. Teow operated various businesses, including a hotel, theme park, resort, furniture outlet, and property development projects in Danok, near the Thailand-Malaysia border.
Forbes
22-03-2025
- Sport
- Forbes
UFC Fight Night London Results: Highlights From Edwards Vs. Brady Card
LONDON, ENGLAND - MARCH 21: (L-R) Opponents Leon Edwards of Jamaica and Sean Brady face off during ... More the UFC Fight Night ceremonial weigh-in at The O2 on March 21, 2025 in London, England. (Photo by Jeff Bottari/Zuffa LLC) Leon Edwards is back. The former UFC welterweight champion, current No. 1 contender, and No. 12 fighter in the promotion's pound-for-pound rankings returns to the Octagon on Saturday in London. It'll be a home game for Edwards at the O2 Arena, where he will face No. 5 Sean Brady in the main event of UFC Fight Night London. I have all the results and highlights of every finish as they happen below. MANCHESTER, ENGLAND - JULY 27: Leon Edwards of Jamaica warms up prior to his fight during the UFC ... More 304 event at Co-op Live on July 27, 2024 in Manchester, England. (Photo by Mike Roach/Zuffa LLC via Getty Images) If Edwards-Brady goes the distance (the fight is scheduled for five rounds), the former will pass Georges St-Pierre for second-most total fight time in the UFC's welterweight division. Edwards would trail only Neil Magny in that department amongst welterweights. LONDON, ENGLAND - MARCH 21: Gunnar Nelson of Iceland poses on the scale during the UFC Fight Night ... More ceremonial weigh-in at The O2 on March 21, 2025 in London, England. (Photo by Jeff Bottari/Zuffa LLC) Gunnar Nelson takes on the reeling Kevin Holland on the main card. Holland has lost two fights in a row and four of his last five. Nelson is currently the UFC's all-time leader in submission wins at welterweight with 7 and significant strike accuracy at 60.5%. However, it's been two years since Nelson competed, with his last fight coming in March 2023. He won that fight over Bryan Barberena via armbar in the first round. Nelson has also secured five performance bonuses thanks to his submission grappling wizardry. If Holland isn't on his game, he might be the newest addition to Nelson's highlight reel. LONDON, ENGLAND - MARCH 21: Alexia Thainara of Brazil poses on the scale during the UFC Fight Night ... More ceremonial weigh-in at The O2 on March 21, 2025 in London, England. (Photo by Jeff Bottari/Zuffa LLC) Two fighters on the card are making their debuts after qualifying for the main roster on the most recent season of Dana White's Contender Series. Alexia Thainara, 27, is from Brazil. She scored a unanimous decision win over Rose Conceicao in September 2024 to earn her contract. Thainara will have to get it done in hostile territory as she faces the homestanding Molly McCann. LONDON, ENGLAND - MARCH 21: Andrey Pulyaev of Russia poses on the scale during the UFC Fight Night ... More ceremonial weigh-in at The O2 on March 21, 2025 in London, England. (Photo by Jeff Bottari/Zuffa LLC) Russia's Andrey Pulyaev, 27, also took a unanimous decision win on the Contender Series. He got the better of Liam Anderson in August 2024 to grab a spot on the roster. He'll also have a tough fight on his hands against the uber-athletic Christian Leroy Duncan. CLD, a Gloucester native, is coming off a unanimous decision loss to Gregory Rodrigues in July 2024. This fight could be excellent while putting the winner in a position for a well-known opponent in their next fight. As the events of the day affect these projections, I'll replace the text with the relevant reactions. Be on the lookout for more UFC Fight Night London coverage through the weekend.
Yahoo
28-02-2025
- Entertainment
- Yahoo
Mister Bee announces ‘Mothman' flavored potato chips
CLARKSBURG, (WBOY) — West Virginia potato chip brand Mister Bee is releasing a new 'Mothman Style Mysterious Spice Blend Chip,' which customers will soon start seeing on shelves statewide. According to a Mister Bee press release sent to 12 News, the chips are already appearing on local shelves. Although the release did not talk about what the chips taste like, at least one person who tried the chips online said the ruffled chips were spicy and smelled 'delicious.' Mister Bee has already released several other West Virginia themed flavors, most recently a biscuits and gravy flavor in 2024 and a '304 Style' and pepperoni roll flavors in 2023. If you want to try the Mothman chips as they become more widely available, you can find Mister Bee potato chips at Kroger, Giant Eagle, Walmart, Sheetz, Go Mart, Mar Mar, Piggly Wiggly and Speedway locations. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Express Tribune
27-02-2025
- Business
- Express Tribune
Wheat crop may fall below 28m tons
Listen to article The Ministry of Finance said on Thursday that wheat production may fall 11% to below 28 million metric tons this year due to dry weather conditions but inflation would remain stable around 3% in February. In its monthly economic outlook, the finance ministry stated that the upward trend in exports, imports and foreign remittances would continue in February too, indicating a current account deficit for the second consecutive month. The report said that favourable weather played a crucial role in achieving production targets. According to Pakistan Meteorological Department's weather outlook, the relatively dry conditions may cause water stress for Rabi crops, especially wheat in rain-fed areas, it added. According to the finance ministry, wheat production is expected to be 27.9 million tonnes this year, down 3.5 million metric tons, or 11.1%. Last year, the country had a bumper wheat harvest of 31.4 million metric tons. The production is far lower than the country's requirements and it may have to import the commodity. In October last year, the Ministry of Food had informed Prime Minister Shehbaz Sharif that the failure to set wheat price and make procurement for the second consecutive year could discourage farmers from planting enough crop for local consumption. This, the ministry warned, might result in wheat imports valuing at more than $1 billion. Federal and provincial governments did not announce wheat support price and implemented the International Monetary Fund (IMF) condition one year in advance. The Ministry of National Food Security had proposed to the prime minister that he may instruct the announcement of a profitable support price and procurement targets for Rabi sowing season 2024-25 in consultation with provinces and publicise that the policy would be discontinued from Rabi 2025-26 in line with IMF programme commitments. However, the government did not accept the food ministry's advice. In 2023, the federal government had fixed wheat support price at Rs3,900 per 40 kg based on an estimated average cost of production of Rs3,304 per 40 kg. This gave about 18% profit margin to farmers. The food ministry was of the view that the IMF programme required full deregulation effective from fiscal year 2025-26, beyond Rabi 2024-25. It said that there was a need for a clear policy direction on wheat pricing and procurement needs to be enunciated by the federal government in consultation with provinces. The finance ministry stated in its outlook that inflation was anticipated to remain within the range of 2% to 3% in February 2025, however, there were prospects of a slight increase to 4% by March. The inflation rate stood at 2.4% in January. The central bank has so far cut its policy rate by 10 percentage points to 12% but it is still far higher than the prevailing inflation rate. During December, large-scale manufacturing (LSM) contracted 3.7% compared to 3.1% growth in the previous year. During the first half (Jul-Dec) of the current fiscal year, the LSM sector posted a decline of 1.9% compared to a contraction of 1% in the corresponding period of FY24. The finance ministry said that the recent monthly performance of big manufacturing industries suggested a potential recovery in upcoming months. In January, the LSM growth is expected to be supported by rising imports of machinery and raw materials along with increased cement dispatches. Moreover, the decline in inflation and an accommodative monetary policy were likely to further boost business confidence and support LSM recovery, said the ministry. The economic outlook is based on the baseline performance of LSM, inflation, fiscal and external sectors as well as economic activities in Pakistan's main trading partners. On the external front, exports, imports and workers' remittances were expected to maintain their upward trend, said the ministry. Pakistan recorded inflows of $20.8 billion in remittances during the first seven months of the current fiscal year, marking a 31.7% increase over $15.8 billion last year. The largest share of 24.7% came from Saudi Arabia, followed by 20.2% from the UAE. In the coming months, remittances are likely to increase further due to seasonal factors such as Ramazan and two Eid festivals. Similarly, exports and imports are projected to improve due to the expansion in economic activity. All these factors would help to keep the current account deficit within manageable limits, it added. The ministry claimed that Pakistan's economy continued to demonstrate positive developments during the first seven months of FY25, as reflected in improvements in key economic indicators. The external sector position has significantly improved, driven by continued increase in exports and workers' remittances despite an upward trend in imports. In January 2025, the current account recorded a deficit of $420 million, compared to a deficit of $404 million in January 2024. Imports of goods reached $33.3 billion against $30 billion last year, showing a 10.9% increase. This resulted in a (goods) trade deficit of $14.1 billion as compared to $12.2 billion last year.
