Malaysian authorities arrest MBI founder, seize more than RM2mil in cash, luxury cars
Three raids netted authorities cash in various currencies along with Jaguar and Range Rover vehicles
By Audrey Dermawan
The founder of MBI Group International has been arrested at his house in Kulim, Kedah to assist investigation into the company’s pyramid scheme-based financial investment.
The Domestic Trade, Cooperatives and Consumerism Ministry (KPDNKK) enforcement division director Datuk Mohd Roslan Mahayudin said the man in his 50s, was detained in his house in Taman MBI Desaku Kulim following a simultaneous raid at three locations.
He said in the first raid in Sungai Dua, Butterworth, the raiding party seized RM280,000 (US$65,352) cash.
He added that in the raid in Taman MBI Desaku Kulim, the raiding party seized RM187,612 (US$43,789), RM218,000 (US$50,881) in various foreign currencies as well as a Jaguar, Range Rover and Toyota Vellfire, all amounting to more than RM1.5 million (US$350,103).
No seizure was made at the third raid, also in Taman MBI Desaku Kulim.
“We have also frozen the suspect’s account as well as (that of) his relatives, amounting to RM30 million (US$7 million).