MBI investors vent anger in online forum in China

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.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Nation

Covid-19: 150 counsellors, psychologists monitoring students’ mental health at public universities, Parliament told
Construction workers in Penang must undergo fortnightly Covid-19 testing from October
Citizenship for vaccinated illegals in Sabah not on the cards, says CM
Govt spent RM164.2bil in Q1 this year, up 5.7% over same period last year, Dewan told
Six Indonesian crewmen rescued after ship capsizes off Klang
Govt to announce changes in citizenship issue, will resolve gender discrimination
Over 9,000 domestic violence cases recorded since MCO began, Rina Harun tells Parliament
Saravanan: 49 workers' quarters found unfit for human habitation, nearly 3,000 occupants relocated
Over a million micro-entrepreneurs benefited from GKP payments since Covid-19 pandemic hit, says Tengku Zafrul
No Malaysians affected by Melbourne quake, says Consul General

Stories You'll Enjoy