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Thailand extradites MBI founder Tedy Teow to China

Casino owner is believed to have cheated about 2 million people.

Updated 2 years ago · Published on 23 Aug 2024 9:14AM

Thailand extradites MBI founder Tedy Teow to China
Tedy Teow owns a hotel, theme park, furniture business, property development, and entertainment complexes, including a resort, in Danok on the Thailand-Malaysia border. – Facebook pic, August 23, 2024.

THAI authorities have extradited Malaysian fugitive businessman and MBI Group founder Tedy Teow to China, reports said.

Thai and Chinese officers escorted Teow from a Bangkok prison on Tuesday to board an evening flight to Beijing.

Chinese investors said Teow defrauded about two million people out of ¥500 (RM307) billion through MBI's online pyramid scheme.

Malaysian authorities have frozen 91 bank accounts linked to MBI Group International, amounting to RM177 million.

Bank Negara has listed MBI as a company running a dubious financial scheme.

Teow owns a hotel, theme park, furniture business, property development, and entertainment complexes, including a resort, in Danok on the Thailand-Malaysia border.

Following a raid on MBI offices in Songkhla, Thai police arrested Teow in July 2022 for allegedly operating an online casino and laundering money. – August 23, 2024.

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