KUALA LUMPUR: An additional RM527.5mil in assets linked to MBI International Group have been seized and frozen by police, bringing the total value of assets recovered to RM3.8bil.
Three more people, including a businessman with the Tan Sri title, are the latest ones arrested to assist in investigations into an investment fraud scheme involving MBI under Op Northern Star.
Bukit Aman Commercial Crime Investigation Department acting director Datuk Seri Muhammed Hasbullah Ali said the three suspects, aged 46, 54 and 58, were arrested in Kuala Lumpur and Penang between May 1 and 17.
“The three individuals acted as proxies who run various businesses to launder money accrued from the syndicate’s fraud.
“Police have also frozen assets and properties believed to be the proceeds illegally acquired through a Ponzi scheme worth RM527,468,296.11,” he said here yesterday, Bernama reported.
Among the assets and properties are four luxury yachts worth RM36.3mil, 477 properties (RM150mil), four condominium units (RM12mil), 37 bank accounts (RM328,088,127.11) and cash (RM283,070).
With the arrests, the number of individuals detained in the MBI investment fraud case stands at 17, with total assets frozen and seized amounting to RM3.81bil.
Muhammed Hasbullah did not rule out the possibility of further arrests and asset seizures.
Asked if any politician was involved in the syndicate, he said none had been identified so far but did not dismiss the possibility pending further investigation.
Earlier this month, The Star reported that a Tan Sri was arrested for alleged involvement in the MBI investment scam.
His arrest brought the total of those detained in the ongoing investigation to 14 people.
The 53-year-old man, who was detained in Penang on May 1 after he returned from overseas, is believed to be either a syndicate proxy or a business partner of the suspects.
The daily had also previously reported that two other prominent businessmen with Tan Sri titles and a Datuk Seri were already in custody.
The arrests of the earlier 13 suspects were made between March 21 and April 21, which has seen RM3.5bil in assets including a hotel and durian plantations linked to the MBI investment scheme previously seized.
Among the assets seized then 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 added.
All these assets are believed to have been purchased or had links to the proceeds from the scheme’s illegal gains.
