After the dual raids, now comes the freezing of a whopping 91 bank accounts.
- Raids conducted under Direct Sales and Anti-Pyramid Scheme Act 1993
- Gold bars, jewellery, branded handbags and watches seized
- Accounts frozen under Anti-Money Laundering Act (AMLA) 2001
On Monday, a task force from various agencies raided MBI’s M Square logistics centre in Kuala Lumpur and its M Mall, a “virtual money” shopping complex in Penang where shoppers use loyalty reward points to redeem goods.
Today, the Domestic Trade, Cooperative and Consumerism Ministry revealed it has frozen RM177m deposited into 91 bank accounts linked to Penang-based MBI Group under the Anti-Money Laundering Act (AMLA) 2001.
The ministry’s enforcement director Datuk Mohd Roslan Mahayudin said 48 individual bank accounts and 43 company bank accounts were all related to MBI Group.
“In the raid, various documents which I am not able to reveal, financial transaction details, computer appliances and several luxury items were also confiscated.
“These included two units of gold bars, branded handbags, branded watches and jewellery,” he told a news conference here today.
Mohd Roslan said that no suspects have been detained at the moment.
“We have not decided on the action to be taken against those involved. For now, we are gathering the evidence acquired during the raid and will decide our further action later,” he said.
He, however, said that those believed to be involved in the matter are currently under the watch of the enforcement authorities and they would be summoned to have their statements recorded.
He said the raid on the premises in an operations called “Ops Token” was carried out following complaints from the public, as well as based on reports published in the media.
Mohd Roslan added that the raid was conducted under the Direct Sales and Anti-Pyramid Scheme Act 1993, as well as acts under the purview of BNM and SSM.
“Investigations are being done under Section 4 of the Act for running a direct selling business without a licence, and Section 27B for promoting or causing the business to be promoted as a pyramid scheme,” he added.