Latest news with #MobilityBeyondImagination
![News@9: Today's top headlines - May 30, 2025 [WATCH]](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fassets%2FNST-Logo%402x.png%3Fid%3Db37a17055cb1ffea01f5&w=48&q=75){kind=small}
New Straits Times
3 days ago
- Politics
- New Straits Times
News@9: Today's top headlines - May 30, 2025 [WATCH]
Here are today's biggest stories. 'I'm not a dictator' Stressing the need for an all-out war against corruption, Prime Minister Datuk Seri Anwar Ibrahim said any prosecution related to corruption must be based on evidence, not arbitrary instructions. Police have, to date, frozen RM3.8 billion in assets in connection with an investment scam linked to Mobility Beyond Imagination. The East Coast Rail Link project, which stretches across Kelantan, Terengganu, Pahang and Selangor, is expected to be 90 per cent complete by year-end. RM400k for defamation Youth and Sports Minister Hannah Yeoh has won RM400,000 in damages in her defamation suit against UUM lecturer Dr Kamarul Zaman Yusoff over two Facebook posts published in 2017. That's it for News@9.
The Star
08-05-2025
- The Star
Cops visit office, home of ‘Tan Sri' linked to MBI
GEORGE TOWN: Police visited the office and house of a 53-year-old businessman with a 'Tan Sri' title who was arrested to facilitate investigation into the Mobility Beyond Imagination (MBI) investment scam. The team from Bukit Aman spent about two hours in the businessman's office in Bayan Baru where he was seen clad in an orange detention outfit, before heading to his residence in Gelugor. It is not known if any materials or assets were seized during the visits to the two locations. Bukit Aman Commercial Crime Investigation Department acting director Datuk Muhammed Hasbullah Ali confirmed that the suspect was taken to both his office and home on Friday to facilitate in on-going investigations. He said a press conference would be held later to provide updates on the progress of the Ops Northern Star investigation. The 'Tan Sri' was arrested upon his return from overseas at about 2am on Thursday. This brings the total of those detained to 14. The arrests of 13 suspects earlier – who included two 'Tan Sri' businessmen and a 'Datuk Seri' – were made between March 21 and April 21, with RM3.5bil in assets seized, including a hotel and durian plantations linked to the MBI investment scam. Among the durian plantations seized were plantations in Pahang, Penang and Kedah worth RM223,624,167.75. An additional 299 bank accounts with RM123,614,594.35 had also been frozen. These assets were believed to have been purchased or had links to the proceeds from the scheme's illegal gains.
The Star
02-05-2025
- Business
- The Star
Third ‘Tan Sri' nabbed in RM3.5bil MBI scam probe
KUALA LUMPUR: Another 'Tan Sri' has been nabbed over his alleged involvement in the Mobility Beyond Imagination (MBI) investment scam. This brings the total of those detained in the ongoing investigation to 14 people. Sources said the 53-year-old man was detained in Penang at about 2am yesterday after he returned from overseas. 'He arrived from overseas via Kuala Lumpur International Airport and made his way to Penang. 'He is believed to be either the syndicate's proxy or a business partner of the suspects,' sources said. The police are also investigating the possibility of the suspect's involvement in money laundering for the syndicate. 'He is believed to have received profits from the investment scam for money laundering purposes,' sources said. Meanwhile, IGP secretariat's Anti-Money Laundering (Amla) division head Comm Datuk Muhammad Hasbullah Ali confirmed the arrest under Ops Northern Star. 'However, we have not seized any belongings so far. 'We are still investigating the case,' he said. The Star previously reported that two 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 now seen RM3.5bil in assets including a hotel and durian plantations linked to the MBI investment scheme previously seized. 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 one of the Tan Sri, a businessman, had been acting as both partner to the investment scam and a proxy to the victims. As of now, no other 'influential figures' such as politicians are on the police radar and others who were being pursued are businessmen, said Comm Muhammad Hasbullah.
Malay Mail
01-05-2025
- Business
- Malay Mail
Police detain another ‘Tan Sri' businessman in Penang linked to RM3.5b MBI Ponzi scheme, suspected proxy to mastermind
KUALA LUMPUR, May 1 — A 53-year-old businessman suspected of involvement in the Mobility Beyond Imagination (MBI) Ponzi scheme, is currently being detained at the police lock-up in Jinjang here, marking the third high-profile arrest linked to the RM3.5 billion scandal. The suspect, the second person to bear a 'Tan Sri' honorific title, was arrested in Penang at about 2am, New Straits Times reported today, citing an anonymous source familiar with the investigation. Commercial Crime Investigation Department acting director Datuk Muhammed Hasbullah Ali confirmed the arrest, stating that investigations are ongoing. The 53-year-old is believed to have acted as a proxy for the scheme's mastermind, assisting in laundering illicit proceeds. 'The man had just returned to Malaysia,' the unnamed source told the newspaper, adding that police will seek a remand order against him. The arrest is part of 'Op Northern Star,' an operation launched on April 18 targeting individuals involved in the MBI scheme. Earlier phases of the operation led to the arrest of five people, including another 'Tan Sri' and a 'Datuk Seri,' for their alleged roles in the fraudulent activities. To date, authorities have seized and frozen assets worth RM3.51 billion, including a hotel, durian farms, luxury vehicles, watches, and bank accounts. The MBI Group International, founded by Malaysian businessman Tedy Teow Wooi Huat, operated a pyramid scheme disguised as a digital coin trading platform called MFC, promoting a virtual currency known as M-Coin. Launched in Penang in 2012, the scheme expanded to China, Taiwan, Japan, and New Zealand. By 2017, Malaysian authorities, led by Bank Negara Malaysia, raided MBI's offices, leading to the freezing of hundreds of bank accounts. The following year, the scheme collapsed, leaving thousands of investors with significant losses. Teow, often referred to as 'Jho Low 2' due to similarities with the 1MDB scandal figure, was extradited from Thailand to China in August 2024. He is accused of defrauding over 10 million investors across Asia, with Chinese authorities estimating losses exceeding 100 billion yuan (approximately RM65 billion). Investigations into the MBI scheme have been ongoing for over seven years. Authorities continue to identify and apprehend individuals connected to the fraudulent operations, aiming to recover assets and provide justice to the victims.
Malay Mail
01-05-2025
- Business
- Malay Mail
Police detain another ‘Tan Sri' businessman in Penang linked to R3.5b MBI Ponzi scheme, suspected proxy to mastermind
KUALA LUMPUR, May 1 — A 53-year-old businessman suspected of involvement in the Mobility Beyond Imagination (MBI) Ponzi scheme, is currently being detained at the police lock-up in Jinjang here, marking the third high-profile arrest linked to the RM3.5 billion scandal. The suspect, the second person to bear a 'Tan Sri' honorific title, was arrested in Penang at about 2am, New Straits Times reported today, citing an anonymous source familiar with the investigation. Commercial Crime Investigation Department acting director Datuk Muhammed Hasbullah Ali confirmed the arrest, stating that investigations are ongoing. The 53-year-old is believed to have acted as a proxy for the scheme's mastermind, assisting in laundering illicit proceeds. 'The man had just returned to Malaysia,' the unnamed source told the newspaper, adding that police will seek a remand order against him. The arrest is part of 'Op Northern Star,' an operation launched on April 18 targeting individuals involved in the MBI scheme. Earlier phases of the operation led to the arrest of five people, including another 'Tan Sri' and a 'Datuk Seri,' for their alleged roles in the fraudulent activities. To date, authorities have seized and frozen assets worth RM3.51 billion, including a hotel, durian farms, luxury vehicles, watches, and bank accounts. The MBI Group International, founded by Malaysian businessman Tedy Teow Wooi Huat, operated a pyramid scheme disguised as a digital coin trading platform called MFC, promoting a virtual currency known as M-Coin. Launched in Penang in 2012, the scheme expanded to China, Taiwan, Japan, and New Zealand. By 2017, Malaysian authorities, led by Bank Negara Malaysia, raided MBI's offices, leading to the freezing of hundreds of bank accounts. The following year, the scheme collapsed, leaving thousands of investors with significant losses. Teow, often referred to as 'Jho Low 2' due to similarities with the 1MDB scandal figure, was extradited from Thailand to China in August 2024. He is accused of defrauding over 10 million investors across Asia, with Chinese authorities estimating losses exceeding 100 billion yuan (approximately RM65 billion). Investigations into the MBI scheme have been ongoing for over seven years. Authorities continue to identify and apprehend individuals connected to the fraudulent operations, aiming to recover assets and provide justice to the victims.
