GEORGE TOWN, June 20 ― The authorities raided the controversial MBI Group in both Penang and Kedah yesterday, seizing cash and luxury cars in the operations.
A statement by the Domestic Trade, Cooperatives and Consumerism Ministry revealed that its enforcement unit, together with the Bank Negara Malaysia, police and the Attorney-General’s Chambers conducted the operations yesterday.
A total of RM688,000 in cash and three luxury cars were seized, while RM27 million in a new bank account was also frozen.
The statement said the operation was conducted in accordance with the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
The authorities are expected to call a press conference to reveal more details on the operations later today.
Two companies linked to MBI Group, its so-called “subsidiaries” MBI International Sdn Bhd and Mface International Sdn Bhd, were blacklisted by BNM on May 22.
The MBI Group companies in Penang and Ampang were first raided on May 29.