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Showing posts with the label KPDKK

Investors unfazed by latest MBI International episode

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GEORGE TOWN: MBI International investors are still keeping faith with the group despite news that a key member of the organisation has been arrested and 98 local bank accounts linked to it have been frozen. Many believe that the episode is temporary and would be over soon. A 65-year-old investor said the majority of his friends were not worried. “Out of 10 friends, perhaps two or three of them are slightly worried. “The rest of us believe this episode will pass soon,” the retired bookkeeper said yesterday. However, he said he would start using more of his virtual coins at M Mall, MBI’s mall in Penang Times Square. MBI members can convert their virtual coins to loyalty points to purchase goods such as groceries, household appliances and even cars. The investor said he also invested in JJPTR, the money game which was crippled recently but accepted it as “investment risks”. “I lost about RM1,000 in JJPTR. I accept it. We cannot win all the ...

Authorities arrest MBI Group founder, freeze 98 bank accounts totalling RM209m

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The Domestic Trade, Cooperatives and Consumerism Ministry enforcement unit announced today the arrest of the MBI Group founder in a sting yesterday. The Domestic Trade, Cooperatives and Consumerism Ministry (KPDNKK) enforcement unit director Datuk Mohd Roslan Mahayudin said the man, in his 50s, is under remand for four days until June 22. The man was arrested during a raid of one of three MBI Group premises at 6.30am yesterday. "He was arrested at the second premise we raided, at Taman MBI Desaku in Kulim, Kedah," he told a press conference at the Bank Negara office here in Penang. The operation, dubbed as Ops Token II, is a joint operation between the KPDNKK, the National Revenue Recovery Enforcement Team of the Attorney-General's Chambers, Bank Negara Malaysia and police. "During the operations, we seized RM280,000 cash from the first premise in Butterworth in Penang," "We seized another RM187,612 in the second premise in Taman MBI Desaku in Kulim, ...