Both China and Malaysia are keen to bring in fugitive Malaysian businessman Teow Wooi Huat, currently in police custody in Thailand, for questioning.
Sources familiar with the investigation had claimed that the MBI Group founder was supposed to be repatriated to Malaysia for investigation on Tuesday (Aug 9).
There could now be a change of destination after Thai authorities also received an extradition request from the Chinese government.
It is learnt that China was the first country to ask for Teow to be extradited there.
The Bangkok Post had earlier reported that Teow, 55, was arrested in a police raid at the MBI Group office in Dannok, Sadao on the Thai-Malaysian border on July 22.
It noted that the Penang-born entrepreneur built a business empire from elaborate investment schemes with nationals from China, Thailand, Malaysia, Indonesia and Macau.
In January last year, Johor police revealed that his company was suspected of using stolen funds to invest in real estate worth RM25 million in Penang.
It was also allegedly involved in fraudulent practices using multiple layers of commercial bank accounts to transfer illicit funds for investment in real estate and virtual currencies.
Police then started hunting for Teow and his two fugitive sons.
It was reported earlier that Teow would be taken to Johor for investigation, but it was later said he would be brought to China for trial.
However, Malaysian police are reportedly applying for a repatriation exercise to bring Teow back here to help in investigations under Section 420 of the Penal Code for cheating.
Beijing police also reportedly want him for questioning following a suit filed at the end of last year by about 400 investors from China to recover investments worth some RM100mil.
In 2019, about 100 Chinese nationals staged a peaceful protest outside the Chinese Embassy in Kuala Lumpur to complain that they had been cheated by an online pyramid scheme operated by MBI. – The Star