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A "TAN SRI" suspected of acting as a proxy to the mastermind behind the Mobility Beyond Imagination (MBI) Ponzi scheme has been arrested and is currently being detained at the police lock-up in Jinjang, Kuala Lumpur.
Sources said the 53-year-old man who helped launder illegal proceeds from the scheme was detained at about 2am today in Penang after he returned from overseas.
Commercial Crime Investigation Department acting director Datuk Muhammed Hasbullah Ali confirmed the arrest, stating that investigations are ongoing.
The "Tan Sri" is the latest individual arrested under Op Northern Star, which began on April 18.
The operation previously saw the arrest of five individuals, including another "Tan Sri" and a "Datuk Seri", over their alleged involvement in a Ponzi scheme in a neighbouring country.
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 was founded by Tedy Teow, a businessman dubbed "Jho Low 2" and since expanded to China, Taiwan, Japan, and New Zealand.
He is currently in custody in China, having been extradited there last year following his arrest by Thai authorities.
He is said to have deceived two million people in China into investing billions. – May 1, 2025
