MBI investors vent anger in online forum in China

  • Nation
  • Thursday, 22 Jun 2017

PETALING JAYA: More than a dozen MBI Group International investors have taken to a popular online forum in China to demand the return of their investments following the arrest of its founder.

A frustrated investor with the handle shouMshiBdiaoi said he had personally lost 35,000 yuan (RM22,000) and his group in Guangxi had lost a total of 51.6mil yuan (RM32.4mil).

"I swear I will never again join MLMs in this lifetime!" he posted on China's biggest online search giant Baidu's Tieba forum on Wednesday , referring to multi-level marketing schemes.

According to the forum thread, 69 investors will be arriving in Malaysia on Thursday to demand that MBI return their money.

MBI is a virtual money scheme operator based mainly in the northern parts of the country.

The founder of MBI, who was remanded on Monday, has since been released on police bail.

A police source said he was released a day before his remand order was to expire Thursday and was picked up by a "Tan Sri" at the police station in Kulim.

He was remanded to allow investigations under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

On Tuesday, Domestic Trade, Co-operatives and Consumerism Ministry enforcement chief Datuk Mohd Roslan Mahayudin announced the remand and that the suspect was the founder of MBI but declined to reveal his name.

He was arrested in an operation, codenamed Ops Token II, which involved the National Revenue Recovery Enforcement Team, Attorney-General's Chambers, Customs Department, Malaysian Anti-Corruption Commission, Inland Revenue Board, Bank Negara, Companies Commission of Malaysia, Immigration Department and the police.

They raided several premises in Kulim and Penang after a month's monitoring and seized three luxury vehicles, and over RM2mil that included foreign currencies.

Ninety-eight bank accounts linked to MBI totalling RM209mil were frozen.

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