Latest news with #Anti-MoneyLaunderingCrimeInvestigation
New Straits Times
4 days ago
- New Straits Times
Federal police to work with Thai authorities over Malaysian laundering suspect
KUALA LUMPUR: Police have reached out to their counterparts in Thailand following the arrest of a Malaysian man for allegedly laundering RM1.5 billion (11.5 billion baht) in funds linked to an illegal gambling site. A source told the New Straits Times that federal police's Anti-Money Laundering Crime Investigation (AMLA) Unit is monitoring the case closely. He said efforts were underway to seek intelligence and cooperation from Thai police. "We are waiting for our counterparts to respond, and then we will know more," the source said. The 26-year-old suspect was detained by Thai immigration authorities at Don Mueang International Airport on Wednesday morning upon arrival, based on an arrest warrant issued by the Nonthaburi Provincial Court on Dec 16 last year. The Bangkok Post reported that the man, whose identity was withheld, is facing multiple charges, including operating an unlicensed online gambling business, conspiracy to commit money laundering, and involvement in laundering activities. Investigators found that he owned a sports-related company, which was allegedly used to channel and disguise illicit proceeds from the gambling platform.
![[UPDATED] 'Tan Sri' among new arrests in ponzi crackdown under Op Northern Star](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fimages%2Farticles%2FHQ130824HZ003_1748576034.jpg&w=3840&q=100)
New Straits Times
30-05-2025
- Business
- New Straits Times
[UPDATED] 'Tan Sri' among new arrests in ponzi crackdown under Op Northern Star
KUALA LUMPUR: Three more individuals, including a "Tan Sri" linked to a major real estate developer, were arrested to assist police investigations into a Ponzi-style investment scam under Op Northern Star. Commercial Crime Investigation Department acting director Datuk Seri Muhammed Hasbullah Ali said the trio were arrested between May 1 and May 17, following new information obtained during the course of investigations. "As of now, the information gathered found no links to any politician. "To date, a total of 17 individuals were arrested. "The arrests were made around Kuala Lumpur and Penang," he told a press conference here today. The three suspects were remanded for between five and nine days, and were subsequently released on police bail. Police have confiscated 477 properties valued at an estimated RM150 million, four condominium units worth around RM12 million, and RM326,088,127.11 from 37 bank accounts. Additionally, four yachts and three passenger boats valued at RM36.3 million, three luxury vehicles amounting to RM637,100, and two watches worth a total of RM160,000 were also seized. Police further recovered over RM283,000 in cash and five mobile phones, bringing the total value of items seized since the operation began to over RM3.8 billion. Bukit Aman's Anti-Money Laundering Crime Investigation (AMLA) Unit also seized five businesses, including a durian farm, a real estate development company, and a hotel — bringing the total number of businesses seized to eight. "Some of these companies are publicly listed, some are private companies which are operating legally even," he explained. Op Northern Star is an investigation into a Ponzi-type investment scam linked to Mobility Beyond Imagination (MBI). On 22 April, police seized and froze more than RM338.53 million in assets related to the case. On 11 April, four men with "Datuk" titles, including two lawyers, were among eight people arrested in the same probe
![[UPDATED] Police: MBI asset seizures could top billions as crackdown widens](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fimages%2Farticles%2FDatuk_Muhammed_Hasbullah_Ali_22_April_1745317431.jpg&w=3840&q=100)
New Straits Times
24-04-2025
- Business
- New Straits Times
[UPDATED] Police: MBI asset seizures could top billions as crackdown widens
KUALA LUMPUR: Federal police believe that billions more in assets and accounts could still be identified and either seized or frozen in connection with the Mobility Beyond Imagination (MBI) Ponzi scheme. Bukit Aman's Anti-Money Laundering Crime Investigation (Amla) Unit chief Datuk Muhammed Hasbullah Ali said that to date, RM3.51 billion worth of assets and accounts had already been seized and frozen. "This is the result of two series of operations carried out between March 21 and April 5, as well as between April 18 and April 21," he told reporters today. He added that while RM3.5 billion in assets and accounts had been seized and frozen so far, they believe the total value could increase substantially with further follow-up actions. "We believe the value could run into billions," he said. Hasbullah said that the two operations led to the arrest of 13 suspects, including a Tan Sri, a Datuk Seri, and three Datuks. "Our investigation team will continue its work to identify any individual or entity, directly or indirectly, involved in receiving, possessing, concealing, transferring, exchanging, laundering, disposing of, or transporting illegal proceeds linked to MBI," he said. "We also encourage anyone with information about assets or illegal proceeds linked to MBI to come forward and assist with the investigation." In efforts to combat money laundering activities in Malaysia, Hasbullah urged members of the public to remain vigilant, avoid suspicious activities, and cooperate with police investigations if they possessed relevant information. On April 11, it was reported that four men holding Datuk titles, including two lawyers, were among eight individuals arrested in connection with a police crackdown on the MBI Ponzi scheme. Inspector-General of Police Tan Sri Razarudin Husain was quoted as saying that the federal police's Amla Unit had seized and frozen various accounts worth a staggering RM3.17 billion as part of the operation, known as Op Northern Star, which involved cross-border collaboration following an Interpol Red Notice issued on March 20. Through this operation, police successfully froze a range of assets and illegal proceeds believed to be linked to the Ponzi scheme, with MBI based in a neighbouring country. The individuals arrested have been remanded for between one and seven days to facilitate investigations under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act 2001. The Amla Unit's series of raids led to the seizure and freezing of assets under Section 44(1) and Section 45(2) of the same Act, amounting to RM3.17 billion. These include 638 bank and stock accounts, totalling RM1.1 billion, which have been frozen. "We also seized 35 properties, estimated to be worth at least RM2 billion, 10 luxury vehicles, 12 luxury watches, and a variety of foreign and local currencies," said Razarudin.
New Straits Times
22-04-2025
- Business
- New Straits Times
Police: MBI asset seizures could top billions as crackdown widens
KUALA LUMPUR: Federal police believe that billions more in assets and accounts may yet be identified, seized, or frozen in connection with the Mobility Beyond Imagination (MBI) Ponzi scheme. Bukit Aman's Anti-Money Laundering Crime Investigation (Amla) Unit chief Datuk Muhammed Hasbullah Ali said that to date, assets and accounts worth RM3.51 billion had already been seized and frozen. "This is based on two phases of operations carried out between March 21 and April 5, as well as April 18 to 21," he told reporters today. He said that although assets and accounts totalling RM3.5 billion had been frozen thus far, investigators believe the total value could increase significantly with further action. "We believe the total could amount to several more billions," he added.
