THREE owners of public-listed companies are among six individuals recently arrested as part of Op Northern Star, an ongoing nationwide crackdown on the MBI investment scheme believed to be linked to large-scale money laundering activities.
The arrests, which took place between 26 July and 15 August, were carried out by the Criminal Investigation Department's Anti-Money Laundering Team (AMLA) under the Inspector-General of Police’s Secretariat.
Inspector-General of Police Datuk Seri Khalid Mohd Ismail revealed that among those detained—aged between their 40s and 50s—are individuals holding the titles ‘Datuk’ and ‘Datuk Seri’.
"Of the six individuals arrested, three are titled—one Datuk Seri and two Datuk—and they are linked to companies listed on Bursa Malaysia,” he said during a press briefing at Bukit Aman on Friday.
According to Khalid, two of the Datuks are involved in telecommunications and property development, while the remaining individuals include a durian plantation caretaker and the estate’s accountant.
“The Datuk Seri and the two Datuks are believed to be acting as proxies, receiving funds from MBI investment mastermind Tedy Teow for the purpose of laundering money. These funds were allegedly channelled into real estate ventures, asset purchases, and plantation businesses,” he explained.
Investigations are ongoing to determine the extent of each individual’s involvement in the MBI scheme, which has long been under scrutiny for its questionable financial practices.
All six suspects have been remanded for periods ranging between four and twelve days to assist police inquiries.
Authorities have also frozen and seized significant assets in connection with the case. This includes 88 bank accounts holding RM10,538,160.96; approximately 398 million shares estimated at RM86,857,452 from two Bursa Malaysia-listed companies; and RM300,600 in cash. - August 22, 2025
