This just came in today at 3:48 PM. Its linked to the this blog's alert dated April 11th entitled "Opposition-linked MBI arrest prior to Xi Jinpeng visit".
Since there is a major arrest, might as well reveal the person is Dato Eddie Ong of Hexstar, Perak Transit and Opcom.
A Facebooker commented on Monday of Eddie Ong in a hurry to dispose off assets to Widad, a PLC close to the Kedah Menteri Besar, Dato Sanusi Md Noor. Its too late and go dig up the opposition leader linked to Eddie Ong.
Malay Mail Online reported:
Bukit Aman: ‘Tan Sri’ and ‘Datuk Seri’ among five more arrested in MBI scam as cops seize RM3.5b in assets including three durian orchards
By Muhammad Yusry
Malay Mail Online Tuesday, 22 Apr 2025 3:48 PM MYT
KUALA LUMPUR, April 22 – The federal police have arrested five more local men, including a businessman with the title “Tan Sri” and another with the title “Datuk Seri, in their investigation of the alleged MBI Group International scam.
Datuk Muhamed Hasbullah Aliq, head of the Money Laundering Crime Investigation Team of the Office of the Inspector-General of Police, said all individuals are currently under remand for five to six days to assist in the ongoing investigation.
“Following information obtained from the first operation and further investigations, the task force carried out a second series of operations in the Klang Valley and northern regions of Peninsular Malaysia from April 18 to April 21,” he said in a press conference at Menara KPJ here.
Hasbullah said that the “Tan Sri” and “Datuk Seri” detained believed to be partners and proxy of the scam operations.
He added that freezing and seizure actions were carried out on various assets and properties believed to be linked to the investment scam.
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A display showing luxury items and vehicles seized during Op Northern Star. April 22, 2025 — Picture by Raymond Manuel |
The list of newly seized, frozen and confiscated items are:
- Durian orchards estimated worth RM223,624,167.75 at three sites: 850 acres in Raub, Pahang; 13 acres in Jawi, Penang; and 34 acres in Tasek, Kedah
- 299 bank accounts with a total value of RM123,614,594.35
- 12 luxury vehicles
- one luxury wristwatch
- an undisclosed amount of cash in Malaysian ringgit
- five mobile phones
- one computer unit
- various important documents
The total estimated value of all frozen and seized assets after the second operation is now RM3,513,304,957.84.
“Additionally, the task force seized three businesses under Section 52 of the Anti-Money Laundering Act (Act 613).
“The businesses include a palm oil processing factory in Selama, Kedah, a hotel in Penang, and a property development company also based in Penang,” he said.
Hasbullah said his department will continue investigations and take action against any individuals or entities linked to assets derived from illegal investment fraud activities.
On March 20, the police carried out an enforcement initiative known as Ops Northern Star, following a red notice issued by Interpol.
Inspector-General of Police Tan Sri Razarudin Husain said police arrested eight individuals, including four with the title of Datuk, in connection with the MBI scam and seized RM3.17 billion worth of assets.
Authorities had then frozen 638 bank and share accounts worth RM1,160,166,195.74. They also seized 35 properties valued at RM2,005,900,000.
Other confiscated items included 10 luxury cars, 12 luxury watches and cash in both local and foreign currencies.
The detained individuals, aged between 44 and 62, included two businessmen and two lawyers.
Last year, authorities extradited MBI founder Tedy Teow from Thailand to China to assist in investigations involving Chinese victims of the scheme.
MBI reportedly attracted investors from Malaysia, China, Thailand, Indonesia, and Macau through dubious online investment schemes.
Teow operated various businesses, including a hotel, theme park, resort, furniture outlet, and property development projects in Danok, near the Thailand-Malaysia border.
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As of the latest tonight, sources mentioned Eddie Ong and wife, Dato Keh Chuan Seng or known as Ramen (mentioned in this blog's April 9th posting), ECK's Tan Sri Khor Eng Chuen, and owner of Chin Hin Berhad, Dato Sri Chiau Beng Teck.
[Read Corporate Secret https://www.the-corporatessecrets.com/blog/2025/04/23/bagaimana-ceo-hextar-group-dalang-bersama-tan-sri-tan-kean-soon-t7-global-tan-sri-khor-kroni-mb-kedah-terima-wang-haram-lebih-rm3b-scammer-tedy-teow-mbi/]
[Read Corporate Secret https://www.the-corporatessecrets.com/blog/2025/04/25/skim-mbi-tan-sri-ketiga-tan-sri-datuk-alex-ooi-pengerusi-ideal-property-group-ditahan/]
The figures mentioned for all named up up to total RM7.6 billion. Street estimate the whole scam involved RM11 billion.
As a result of the bust, Bursa Malaysia felled by 13.22 points today. NST reported the fall by quoting attention seeking analysts and fund managers to attribute it to "uncertain direction of US trade policy, concerns over the Federal Reserve's independence and recent downward revisions to corporate earnings forecasts for the first quarter of 2025."
There was announcement from the US Department of Commerce on tariff slapped for solar panel from Malaysia. Donny wants to drill baby drill and none of the "hoax" environmental renewable stuff.
Gordon Gecko said in the movie Wall Street that analysts know shit and couldn't tell the difference between livestock and loan stock or something. They will probably know by tomorrow.
Damn slow cause this blog been rewriting about MBI since March 26th. Almost an effing month ago!
This blogger is telling now that this is just the beginning. The widespread existence of scammers including those linked to MBI and Corporate Mafia have been the conversation at the highest international level.
SC and Bursa Malaysia failed miserably. Perhaps that is one reason the local stock market been performing poorly since 2018.
Mahathir 2.0 and Lim Guan Eng was a major factor but it went downhill since Serba Dinamik debacle in 2021 under the PN administration.
Update 23/4/25 12:51 PM
The Star reported:
Another ‘Tan Sri’ nabbed
By JUSTIN ZACK
NATION
Wednesday, 23 Apr 2025
KUALA LUMPUR: Another “Tan Sri” and a “Datuk Seri” are the latest arrests under Ops Northern Star, which has now seen RM3.5bil in assets including a hotel and durian plantations linked to the MBI investment scheme being seized.
IGP secretariat’s Anti-Money Laundering (AMLA) division head Comm Datuk Muhammad Hasbullah Ali said the “Tan Sri” and “Datuk Seri” were among five caught during the second round of arrests between April 18 and April 21.
This brings the number of suspects arrested to 13, with eight previously caught between March 21 and April 5.
“They (the latest arrested) have been remanded for between five and six days to assist investigations,” Comm Muhammad Hasbullah told a press conference at the division’s headquarters here yesterday.
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 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’s radar and others who were being pursued are businessmen, said Comm Muhammad Hasbullah. [Is police denying this posting here or its not the time yet?]
Previously, the police arrested another “Tan Sri” and further checks showed that he had no direct links to the scam, but he had actually attempted to swindle one of the suspects.
Investigations showed that the “Tan Sri” had offered to make the suspect’s case “go away” for RM25mill. [Anything to do with this posting here?]
“The suspect had paid RM10mill as a deposit,” said Comm Muhammad Hasbullah, adding that the suspect told the police of the deal when he was arrested.
The “Tan Sri” was later picked up following the suspect’s police report.
Comm Muhammad Hasbullah explained that the MBI investment scheme scam had been investigated for around eight years, but only six police reports had been lodged in Malaysia. Several reports had been retracted by the complainants.
“From what we have received from the Interpol Red Notice, there were around 11 million victims from neighboring countries,” he said.
He also said it is possible that more assets would be seized as investigations continue.
“We believe the total could go up to several more billions.”
To date, the seizures in Ops Northern have totalled RM3.5bil, among which are a hotel, a developer’s office and a palm oil factory.
On April 11, Inspector-General of Police Tan Sri Razarudin Husain said eight suspects, including those with the title of “Datuk”, had been arrested as part of investigations into the MBI investment scam.
Last year, fugitive businessman and founder of MBI, Penang-born Tedy Teow, was extradited to China from Thailand to assist in investigations there on scammed Chinese nationals.
Investors claimed that some two million in China had been cheated by Teow involving a sum of 500 billion yuan (RM307bil).
Some of the investors flew to Malaysia to search for Teow in 2019 in a bid to recover their investments into MBI’s online pyramid scheme.
Through Interpol, the Chinese police sought to arrest Teow by issuing a red notice on Nov 9, 2020.
Teow operated a hotel, theme park, furniture business, property development and entertainment complexes, including a resort in Danok near the Thailand-Malaysia border.
He also built a sprawling business empire from dubious online investment schemes that attracted investors from China, Thailand, Malaysia, Indonesia and Macau.
Thai police arrested Teow on July 21, 2022, for allegedly operating an online casino and money laundering operation after raiding MBI’s office in Songkhla.
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A source once claimed that MBI money was laundered and flowed into drug traficking business. There is a high possibility and market have been murmuring of MBI money flowing into the stock market to fund syndicate play or penny stock scammers as to "cleanse" their dirty money.
1 comment:
So in the case of Busra/SC,
1) They failed to punish the bad guys (corporate mafia)
2) They succeeded to punish the good guys (serba dinamik).
Got it.
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