GEORGE TOWN – Enforcement agencies have continued their crackdown on “money games” with raids on the MBI Group International, which also saw an account holding RM27 million frozen.
A top official from the MBI group was also detained as part of the raids at its offices in Penang and Kedah on Monday.
The operations were carried out by the Domestic Trade, Co-operatives and Consumerism Ministry, Bank Negara Malaysia (BNM), police and the Attorney General’s Chambers.
Their actions come under the ambit of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
In addition to freezing the bank account, authorities also seized RM688,000 cash as well as three luxury cars.
Reports also said a “top official” has been detained but his or her identity has yet to be ascertained.
Enforcement agencies are expected to host a press conference this afternoon on their latest move.
MBI International grabbed the headlines when authorities raided the MBI offices nationwide on May 29 this year.
Subsequently on May 31, authorities froze 91 accounts with a total of RM177 million following the earlier raids.
MBI International had been red-flagged by BNM for having a questionable financial scheme. – The Sun