Latest news with #MBI
The Star
2 days ago
- Business
- The Star
MBI Selangor refutes any connection to MBI International Group
PETALING JAYA: Selangor Mentri Besar (Incorporated) or MBI Selangor stresses that it has no connection, relationship or interest with MBI International Group (MBI) and individuals involved in the investigation into an investment fraud case. Sinar Harian reported that MBI Selangor said there was a possibility of public confusion arising from the similarity of names between the two entities and it is taking this seriously. 'MBI Selangor is a wholly-owned subsidiary of the Selangor government established to drive strategic development, investment and management of state assets in line with the aspirations of sustainable development and prosperity of the people of Selangor. 'Therefore, we urge the public to be careful and not to be confused with entities that are not related to the official operations of the Selangor government. 'Any further information about MBI Selangor can be obtained through our official website at or other official communication channels,' it said in a statement on Saturday (May 31). Previously, it was reported that a businessman with the title of Tan Sri was among three individuals who were arrested after being believed to be involved in an investment fraud scheme involving MBI. Bukit Aman Commercial Crime Investigation Department acting director Datuk Seri Muhammed Hasbullah Ali said the three suspects, who are local men aged between 46 and 58 years old, were arrested in raids carried out through Ops Northern Star around Kuala Lumpur and Penang between May 1 and 17. Inspector-General of Police Tan Sri Razarudin Husain had also announced that his department arrested eight individuals and seized assets worth RM3.17bil on April 11, based on information from an Interpol Red Notice.
The Star
2 days ago
- Business
- The Star
Another Tan Sri linked to MBI nabbed, RM527mil seized
KUALA LUMPUR: An additional RM527.5mil in assets linked to MBI International Group have been seized and frozen by police, bringing the total value of assets recovered to RM3.8bil. Three more people, including a businessman with the Tan Sri title, are the latest ones arrested to assist in investigations into an investment fraud scheme involving MBI under Op Northern Star. Bukit Aman Commercial Crime Investigation Department acting director Datuk Seri Muhammed Hasbullah Ali said the three suspects, aged 46, 54 and 58, were arrested in Kuala Lumpur and Penang between May 1 and 17. 'The three individuals acted as proxies who run various businesses to launder money accrued from the syndicate's fraud. 'Police have also frozen assets and properties believed to be the proceeds illegally acquired through a Ponzi scheme worth RM527,468,296.11,' he said here yesterday, Bernama reported. Big haul: Muhammed Hasbullah (second from right) showing some of the seized items, with a whiteboard showing the bigger items, during a press conference. — Bernama Among the assets and properties are four luxury yachts worth RM36.3mil, 477 properties (RM150mil), four condominium units (RM12mil), 37 bank accounts (RM328,088,127.11) and cash (RM283,070). With the arrests, the number of individuals detained in the MBI investment fraud case stands at 17, with total assets frozen and seized amounting to RM3.81bil. Muhammed Hasbullah did not rule out the possibility of further arrests and asset seizures. Asked if any politician was involved in the syndicate, he said none had been identified so far but did not dismiss the possibility pending further investigation. Earlier this month, The Star reported that a Tan Sri was arrested for alleged involvement in the MBI investment scam. His arrest brought the total of those detained in the ongoing investigation to 14 people. The 53-year-old man, who was detained in Penang on May 1 after he returned from overseas, is believed to be either a syndicate proxy or a business partner of the suspects. The daily had also previously reported that two other prominent businessmen with Tan Sri titles and a Datuk Seri were already in custody. The arrests of the earlier 13 suspects were made between March 21 and April 21, which has seen RM3.5bil in assets including a hotel and durian plantations linked to the MBI investment scheme previously seized. Among the assets seized then 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 added. All these assets are believed to have been purchased or had links to the proceeds from the scheme's illegal gains.
The Star
3 days ago
- Politics
- The Star
Asean News Headlines at 10pm on Friday (May 30, 2025)
Malaysia: * I've planned my next steps but will reveal them later, says Rafizi * Malaysia elected president of UN-Habitat Assembly for 2025-2029 term * Celebration of Kaamatan, Gawai festivals reflect country's diverse culture and heritage, says PM Anwar * I'm not the kind of PM who orders arrests like a dictator, Anwar says of Sabah mining scandal claims * Home Minister's WhatsApp account hacked using foreign VPN, say cops * Malaysia fully backs Tokyo Statement 2025 ahead of unveiling * Bank Negara: Malaysia's headline inflation unchanged at 1.4% in April * MBI scam: Tan Sri among three more arrested, RM500mil in luxury assets frozen * Religious school teacher in Jasin claims trial for sexually assaulting male student * Public varsity admission offers for SPM holders to be announced on June 16 * Mature democracy cannot exist without free, fair and fearless journalism, says Ramanan * Ex-Goldman banker Leissner gets two years in 1MDB fraud case * PM not seeking immunity, says Anwar's political secretary * Ex-Goldman banker Leissner apologises to Malaysians after being sentenced to two years in prison in 1MDB case * 'No regrets': Man United winger Amad explains obscene gesture to Malaysian fans during friendly match in Bukit Jalil * Malaysia Airlines debuts special Manchester United livery during 2025 Asia post-season tour * 'Where is the monkey?': Peka demands accountability and answers over Shah Alam animal abuse case * Hannah Yeoh wins defamation suit, Kamarul Zaman ordered to pay RM400,000 in damages US Secretary of Defense Pete Hegseth (left) shakes hands with Philippines' Secretary of National Defense Gilberto Teodoro (R) before a bilateral meeting on the sidelines of the Shangri-La Dialogue Summit in Singapore on Friday, May 30, 2025. -- Photo by MOHD RASFAN / AFP Singapore: * Singapore and France to expand defence ties, cooperate on nuclear energy in upgraded relationship * Malaysian PM Anwar to deliver special address at Shangri-La Dialogue in Singapore * Macron will kick off Singapore security conference with Hegseth in attendance * Israel may be in breach of international law by restricting aid to Gaza, says Singapore PM Wong * Almost 50 countries to attend 22nd Shangri-La Dialogue in Singapore * Singapore arrests 44 for suspected prostitution, gambling activities in Geylang * 'Johor too long known as just Singapore's neighbour'- More effort needed to make state a primary tourism destination * Stocks slip, dollar sags as Trump tariffs remain after latest courtroom twist / Stocks drop on tariff whiplash, futures decline * Badminton: World No. 1 pair Sze Fei-Izzuddin bow out in quarter-finals of Singapore Open / Badminton: Pearly Tan-Thinaah run out of steam again in second straight loss to Chinese pair Indonesia: * Macron urges Asia and Europe to unite to resist 'spheres of coercion' * Indonesia calls in Singapore oil traders over Pertamina probe * Rock collapse at Indonesia quarry kills at least five with dozens trapped, Kompas TV reports * Indonesian Manpower Ministry bans age restrictions in job postings * Indonesia-France: Macron decorates Prabowo, affirms culture links * Oil set for second weekly decline as market eyes another OPEC+ output hike ERIN, WISCONSIN: Patty Tavatanakit of Thailand chips onto the fifth green during the first round of the US Women's Open presented by Ally 2025 at Erin Hills Golf Course in Erin, Wisconsin. -- Photo:/AFP Thailand: * Ex-Thai DPM: Myanmar must end conflict or face humanitarian crisis * Malaysia-Thailand collaboration in agriculture set for major expansion * Thai poultry industry poised for growth on Brazil bird flu, lower feed costs * Chinese lidar maker Hesai zeroes in on South-East Asia for first overseas plant * South-East Asian trafficked cyber victims freed but far from home * Thailand to issue statement to resolve clash point in Chong Bok area Philippines: * Woman who crawled out of drain in the Philippines found, as a nation grapples with homelessness * Marcos admin wants seven bills enacted before new Congress starts * US sanctions Philippines digital infrastructure provider linked to virtual currency scams * Filipino actor Alden Richards reveals battle with depression in 2024 * Ex-Filipino congressman accused of murders to be deported A woman prepares flowers at a local street market, in Hanoi, Vietnam. -- REUTERS/Chalinee Thirasupa Vietnam: * Malaysian PM Anwar highlights Vietnam's key role in Asean * Work on US$1 bil Trump Tower in Vietnam could start next year, source says * Proposal to give State Bank in Vietnam special lending authority * Vietnam stresses coordination in marine economy * Hanoi pulls The Economist printed issue with top leader on cover Myanmar: * Myanmar earthquake kills 3,739, injures 5,104 as of May 28 * Bangladesh recalls ambassador from Myanmar * Myanmar Football -- Maung Maung's fame mounts after his goal seals dream victory * Global crises disrupt effort to get millions to quit smoking, report says Balinese women perform a traditional dance at Art Center Denpasar on Indonesia's resort island of Bali on Friday, May 30, 2025. -- Photo by SONNY TUMBELAKA / AFP Cambodia: * Shattering glass sandbags: Meet the first Cambodian women UN commander in Lebanon * Cambodian American chefs are finding success and raising their culture's profile. On their terms * Cambodia will retain military presence at scene of armed clash * Japanese held in Cambodia scam raids - govt going hard on fraud centres Laos: * 'They must be protected': Lao PM pledges to safeguard children's rights * Illegal surrogacy in Laos punishable by up to 19 years in jail, govt warns as cases reported * Laos strengthens efforts to attract Chinese tourists Brunei: * Brunei's international exhibition fare returns to attract foreign visitors * Tourism drive promotes scenic charm, serenity of Brunei France's President Emmanuel Macron gives the keynote address at the Shangri-La Dialogue Summit in Singapore on Friday, May 30, 2025. -- Photo by Ludovic MARIN / AFP AseanPlus: * Badminton: Aaron-Wooi Yik edge past Wei Chong-Kai Wun to reach Singapore Open semis * Malaysia's international reserves assets at US$118.70bil as of end-April * Cops raid drug lab in Brickfields making narcotic vapes, nab two Taiwanese chemists * Oil tankers going dark off Malaysia as Iran trade draws scrutiny * Political parties from China and neighbouring nations pledge closer cooperation * YouTube's top star 'Baby Shark' creator Pinkfong applies for IPO in South Korea * HK stars Eric Tsang, Chin Ka-lok & more to hold concert in Genting Highlands on July 19 * Nearly one in four ballots already cast as early voting in South Korea breaks turnout records * War of the words: Why top US diplomat Rubio is lost in China's translations * China plans to arm Tiangong space station with self-defence bots: scientist * China's Tianwen-2 lifts off on mission to bring asteroid samples back to Earth * Chinese paraglider reaches near-record heights, over 8,500m, by accident * China's new tech for quieter subs could revolutionise underwater stealth: study * US to pause student visa interviews ahead of new social media vetting: reports * Rolls-Royce to operate new aero engine facility in Beijing * China establishes global mediation body in Hong Kong * Korean eatery boss wows diners, balances table full of dishes on head while serving * US to start 'aggressively' revoking visas for Chinese students, Rubio says * South Korea goes o the polls - Early voting starts for election triggered by martial law * Second group of Hong Kong democrats freed after four years in jail * 'Solo Leveling' emerges as biggest winner at anime awards in Tokyo * Japan to create digital archive of manga, anime and games * Can Hong Kong's Cathay compete against rivals dishing out hefty bonuses? * Jackie Chan's 42YO son makes rare public appearance at wedding in South Korea * Trump aims to exceed first term weapons sales to Taiwan, officials say * New president, new hopes for calm at South Korean village near DMZ * Firefighters put out Hong Kong warehouse blaze that raged for over 20 hours * TVB actor Ruco Chan unfazed by 'seven-year itch' with wife Phoebe Sin * Nagasaki bomb survivor claws at traces of history * Can Hong Kong's Cathay compete against rivals dishing out hefty bonuses? * Indian Navy will lead New Delhi's response to any future Pakistani aggression, minister says * Death penalty for saying 'oppa'?: North Korea strengthens law to curb 'anti-socialist culture' in the South * Japan'sfavourite ex-princess, Mako Komuro, has given birth to her first Child, says Imperial Household Agency * North Korea enabled Russian attacks on Ukraine civilian infrastructure, says UN monitoring group * Taco trade? US leader challenges claim that 'Trump always chickens out' in talks * Cricket - Kohli closer to maiden IPL title as Bengaluru storm into final * Motor racing - Hamilton says talk of friction with engineer "all noise"
Barnama
3 days ago
- Business
- Barnama
Ponzi Scheme: Tan Sri Among Three More Arrested, RM500 Mln In Luxury Assets Frozen
KUALA LUMPUR, May 30 (Bernama) -- Three more individuals, including a businessman with the title of Tan Sri, have been arrested to assist in investigations into an investment fraud scheme involving MBI International Group (MBI) under Op Northern Star. Bukit Aman Commercial Crime Investigation Department acting director Datuk Seri Muhammed Hasbullah Ali said the three suspects, aged 46, 54 and 58, were arrested in Kuala Lumpur and Penang between May 1 and 17. 'The three individuals acted as proxies who run various businesses to launder money accrued from the syndicate's fraud.
The Star
3 days ago
- Business
- The Star
MBI scam: Tan Sri among three more arrested, RM500mil in luxury assets frozen
KUALA LUMPUR: Three more individuals, including a businessman with the title of Tan Sri, have been arrested to assist in investigations into an investment fraud scheme involving MBI International Group (MBI) under Op Northern Star. Bukit Aman Commercial Crime Investigation Department acting director Comm Datuk Seri Muhammed Hasbullah Ali said the three suspects, aged 46, 54 and 58, were arrested in Kuala Lumpur and Penang between May 1 and 17. "The three individuals acted as proxies who run various businesses to launder money accrued from the syndicate's fraud. "Police have also frozen assets and properties believed to be the proceeds illegally acquired through a Ponzi investment pyramid scheme worth RM527,468,296.11,' he told a press conference here on Friday (May 30). He said among the assets and properties were four luxury yachts worth RM36.3mil, 477 properties worth RM150mil, four condominium units (RM12mil), 37 bank accounts (RM328,088,127.11) and cash (RM283,070). With the arrests, the number of individuals detained in the MBI investment fraud case stands at 17, with total assets frozen and seized amounting to RM3.81bil. Meanwhile, Comm Hasbullah did not rule out the possibility of further arrests and asset seizures. Asked whether any politicians were involved in the syndicate, he said none had been identified so far but did not dismiss the possibility pending further investigation.- Bernama
