By Izzy A
Malaysia’s financial regulators have arrested 23 individuals — including titleholders such as Tan Sri and Datuk Seri — in connection with the MBI Group Ponzi scheme, seizing assets worth about RM6.65 billion as part of the ongoing investigation into alleged fraud and illicit investment operations. Authorities say the operation targeted fraud linked to multiple companies and financial deals.
MBI Group crackdown leads to major arrests and asset seizures
The arrests follow months of enforcement action by the Securities Commission and other agencies to dismantle what regulators allege was an elaborate investment scam that drew in thousands of investors. Officials say the magnitude of seized assets reflects the scale of the suspected fraud.
Investigations are ongoing, and authorities have urged investors to verify licences and be cautious of high-yield schemes, warning that many deals promise unrealistic returns.
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