Latest news with #OpNorthernStar
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.
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
Malay Mail
3 days ago
- Business
- Malay Mail
MBI investment scam crackdown: 477 properties, RM328m frozen as cops nab ‘Tan Sri' in billion-ringgit bust
KUALA LUMPUR, May 30 — Police have seized and frozen an additional RM527.5 million in assets linked to the MBI International Group investment scam, bringing the total value of assets recovered to RM3.8 billion. Bukit Aman commercial crime investigation department (CCID) acting director Datuk Seri Muhammed Hasbullah Ali said the latest seizures followed the arrest of three individuals earlier this month in Penang and Kuala Lumpur, including a businessman with a 'Tan Sri' title, according to a report published in Free Malaysia Today. '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 today. He added that 37 bank accounts holding RM328 million were frozen, and that authorities also confiscated three luxury vehicles worth RM637,000, RM283,070 in cash, and various items including watches, jewellery, mobile phones, and documents. Five business entities allegedly tied to the scam were also seized, including a durian plantation company, a property developer, and a hotel operator. Hasbullah said further arrests and asset seizures are expected as investigations under Op Northern Star continue. When asked about political involvement, Hasbullah said there was no evidence of any such connection at this stage. The operation, which targets financial syndicates in the Klang Valley and northern Peninsular Malaysia, has so far seen 17 people arrested and 988 bank accounts frozen. The suspects are believed to be part of a cross-border Ponzi-style investment scheme operated by the MBI group. Separately, police also busted two phone scam syndicates targeting Japanese nationals in Kajang and Cheras on May 13, seizing electronic devices worth RM25,000. In Kajang, six Japanese and two Chinese nationals were arrested at a three-storey bungalow used as a call centre, where they impersonated Osaka police using spoofed calls via the Bria Mobile app. Two Chinese suspects have been charged, while the six Japanese suspects will face charges on June 3. In Cheras, 11 people — seven Japanese and three Taiwanese — were arrested, with police seizing laptops, mobile phones, fake police uniforms, and documents valued at RM20,000. Three Taiwanese suspects have been charged, while the remaining eight will serve as prosecution witnesses. Hasbullah also said a special task force will be stationed at KLIA to tackle Haj package fraud during the pilgrimage season, following reports of RM874,100 in losses across four cases this year.
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![[UPDATED] 'Tan Sri' among new arrests in ponzi crackdown under Op Northern Star](/_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
- Business
- New Straits Times
[UPDATED] 'Tan Sri' among new arrests in ponzi crackdown under Op Northern Star
KUALA LUMPUR: Three more individuals, including a "Tan Sri" linked to a major real estate developer, were arrested to assist police investigations into a Ponzi-style investment scam under Op Northern Star. Commercial Crime Investigation Department acting director Datuk Seri Muhammed Hasbullah Ali said the trio were arrested between May 1 and May 17, following new information obtained during the course of investigations. "As of now, the information gathered found no links to any politician. "To date, a total of 17 individuals were arrested. "The arrests were made around Kuala Lumpur and Penang," he told a press conference here today. The three suspects were remanded for between five and nine days, and were subsequently released on police bail. Police have confiscated 477 properties valued at an estimated RM150 million, four condominium units worth around RM12 million, and RM326,088,127.11 from 37 bank accounts. Additionally, four yachts and three passenger boats valued at RM36.3 million, three luxury vehicles amounting to RM637,100, and two watches worth a total of RM160,000 were also seized. Police further recovered over RM283,000 in cash and five mobile phones, bringing the total value of items seized since the operation began to over RM3.8 billion. Bukit Aman's Anti-Money Laundering Crime Investigation (AMLA) Unit also seized five businesses, including a durian farm, a real estate development company, and a hotel — bringing the total number of businesses seized to eight. "Some of these companies are publicly listed, some are private companies which are operating legally even," he explained. Op Northern Star is an investigation into a Ponzi-type investment scam linked to Mobility Beyond Imagination (MBI). On 22 April, police seized and froze more than RM338.53 million in assets related to the case. On 11 April, four men with "Datuk" titles, including two lawyers, were among eight people arrested in the same probe
