MBI founder released on police bail
Published on: Thursday, June 22, 2017
GEORGE TOWN: The founder of the MBI Group, who was detained by a federal anti-money laundering task force on Monday, was released on police bail Wednesday.A source with the Domestic Trade, Cooperatives and Consumerism Ministry (KPDNKK) said the man, in his 50s, was released by Kedah police at 4pm.When asked if his release meant there was no case, the officer said it was too early to assume so.
ADVERTISEMENT
The officer, speaking on condition of anonymity, added that the investigation into MBI's alleged illegal pyramid investment scheme and money laundering would proceed as usual.At a press conference on Tuesday, KPDNKK enforcement director Mohd Roslan Mahayudin said the founder had been remanded for four days.He said enforcement officers seized a total of RM2.23 million in cash and property from raids which began at the founder's luxury home in Taman MBI Desaku, Kulim, Kedah.KPDNKK officials have also frozen bank accounts worth RM30 million for nine days. The accounts were frozen under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
ADVERTISEMENT
Stay up-to-date by following Daily Express’s Telegram channel.
Daily Express Malaysia
