THE Police (PDRM) have identified several more individuals believed to be connected to the founder of the fraudulent investment scheme operated by MBI International Group.
Inspector-General of Police, Tan Sri Razarudin Husain, confirmed that these individuals were traced following further investigations into eight people who were arrested during Operation Northern Star on March 20. Among those detained were four individuals holding the honorific title 'Datuk'.
According to Razarudin, fresh evidence uncovered during the course of investigations has enabled police to track down others suspected of being involved in the Ponzi-style investment scam.
“Our investigation revealed that some of them are still residing in the country and remain actively engaged in various business ventures,” he said when contacted earlier today.
He added that the seizure and freezing of assets worth RM3.17 billion by Bukit Aman’s Anti-Money Laundering Criminal Investigation Team (AMLA) on 20 March marked the first phase of the operation.
“We expect more individuals to be identified in the subsequent phases of the investigation, including the seizure and freezing of additional assets,” Razarudin added.
Earlier, the IGP disclosed that the MBI-linked operation—centred in a neighbouring country—was launched based on information obtained through a Red Notice issued by INTERPOL, prompting cross-border enforcement actions.
The eight Malaysian nationals arrested during the operation—aged between 44 and 62—included a woman, two entrepreneurs and two lawyers, all of whom bear the 'Datuk' title. The coordinated raids led to one of the largest seizures in recent years.
Among the assets seized or frozen were 638 bank accounts and shares worth a combined RM1.16 billion, 35 properties valued at approximately RM2.01 billion, 10 luxury vehicles, 12 high-end watches, large amounts of cash, jewellery, six mobile phones, two laptops, four designer handbags, and a collection of key financial documents. – April 12, 2025
All assets were seized under Sections 44(1) and 45(2) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA).
MBI International was founded by Malaysian businessman Tedy Teow Wooi Huat, who has long been a controversial figure.
Tedy Teow was arrested in Thailand and later extradited to China in August 2024 to face charges including fraud, operating a pyramid scheme, and money laundering.
His activities had previously attracted scrutiny from authorities across multiple jurisdictions, including INTERPOL. – April 12, 2025
