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POLICE have arrested three additional individuals, including a person holding the title "Tan Sri," in connection with the MBI Group International Ponzi scheme. The arrests were made between May 1 and May 17, 2025, during operations in Kuala Lumpur and Penang.
The authorities have seized and frozen assets valued at over RM527 million, including four yachts and three passenger boats estimated at RM36.3 million, 477 properties worth approximately RM150 million, four condominiums valued at RM12 million, 37 bank accounts totaling RM328 million, and cash amounting to RM283,000.
Additionally, three luxury vehicles, two high-end watches, and five mobile phones were confiscated.
Acting Director of the Commercial Crime Investigation Department (JSJK) at Bukit Aman Datuk Muhammed Hasbullah Ali stated that the police are investigating the involvement of high-profile individuals, including politicians, in the syndicate.
He emphasised that the Anti-Money Laundering Act (AMLA) team is committed to investigating and taking action against anyone suspected of being involved, directly or indirectly, in the possession, transfer, use, or movement of funds derived from illegal activities.
This latest operation brings the total value of frozen and seized assets to approximately RM3.8 billion. Investigations reveal that many of the companies owned by the syndicate operated legally, primarily in the real estate development sector, and are among the largest housing developers in Malaysia.
The police continue to pursue leads and are prepared to act against any individuals or entities linked to the illegal activities associated with the MBI investment fraud. - May 30, 2025
