GEORGE TOWN: Property developer Ideal Property Group has dismissed allegations on social media that its Group Executive Chairman was arrested in connection with the investigation into a scam linked to MBI Group.
In a statement, the group said it has lodged reports to authorities to pursue legal action.
"Ideal Property Group strongly refutes the false and malicious allegations and categorically denies these baseless and defamatory statements.
"Ideal Property Group operates with strict adherence to the law, ethical business principles and distinguishes itself through technical excellence, successful project delivery and rigorous regulatory compliance.
"Our organisation is committed to maintaining the highest levels of professional integrity and operational transparency.
"To address this false and malicious disinformation campaign, Ideal Property Group has lodged a report with the Malaysian Communications and Multimedia Commission, police and will take immediate legal action to protect its reputation," the statement said on Wednesday (April 30).
The group added it continues to show solid operational performance.
"Our organisation maintains its unwavering focus on executing current projects and fulfilling all obligations to its various stakeholders with excellence," it said.
On April 22, police arrested five more people, including two with the titles Tan Sri and Datuk Seri, for their suspected roles as proxies and business partners in a Ponzi-style investment scam linked to MBI.
Officers also seized three durian orchards covering nearly 360ha and worth about RM223.6mil in Raub, Jawi and Tasek.
Earlier, Police Inspector General Tan Sri Razarudin Husain said eight people had been arrested and RM3.17bil in assets had been seized in the case.
