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MBI & Macau Scam Boss : Malaysia Billionaire Teow Wooi Huat Arrested In Thailand – MLM & Money Laundering King

A fugitive Malaysian businessman operating in Thailand has been arrested in southern Songkhla province for alleged money laundering.

Teow Wooi Huat, the founder of MBI Group International, was arrested in the early hours of Friday by a team led by National Police assistant chief Pol Lt-General Surachate Hakparn.

Police also searched his MBI Group office in Sadao district on the Thai-Malaysian border.

His capture came after recent arrests of local politicians in Songkhla and Nakhon Si Thammarat provinces after a crackdown on online gambling in southern Thailand.

An investigation led by Surachate discovered their links to Teow, police said on Friday.

The billionaire businessman was found to be the major financier of the online gambling rings.

MBI Group’s office in Thailand is located on a plot of land spanning over 100 rai (16 hectares). It is involved in a wide variety of businesses worth over 10 billion baht, ranging from hotels and entertainment places to amusement park and real estate.

The Malaysian businessman had been arrested in 2017 on the charge of drug dealing. He fled to Songkhla and later managed to escape prosecution.

In 2018, Malaysian authorities charged Teow with financial crimes. His assets were seized for his connection with a pyramid scheme. He fled from Malaysia to Thailand last year.

His company MBI Group International made headlines in Malaysia in October 2019 when scores of Chinese nationals rallied outside the embassy in Kuala Lumpur, claiming they had lost their life savings to the firm.

The people said they had been “cheated” by an online pyramid scheme allegedly run by MBI Group International. Teow was also wanted in Malaysia in connection with a 336-million-ringgit (US$83 million) money-laundering scam in Macau.

The Bangkok Post described Teow as having been dubbed “Jho Low 2”, in reference to Penang-born fugitive businessman Low Taek Jho, or Jho Low who has been accused of siphoning money from 1MDB.

Teow is also from Penang. Last year, he and his two sons, Teow Ee Meng and Teow Chee Chow, were reported to be wanted in connection with a Macau scam syndicate that bought property totalling up to RM336 million.

In 2018, Teow was fined RM3 million and MBI International RM2.5 million for using unauthorised payment instruments.

A subsidiary company was fined RM7 million over a pyramid scheme and RM2.5 million over an unauthorised payment instrument. A director of the company was fined RM5 million under the money laundering act.

According to Johor police chief Comm Datuk Ayob Khan, the syndicate would try to get victims to transfer money into a mule account. The money would then be transferred again to yet another mule account belonging to a different company, before being used to invest in Bitcoins and to purchase properties totaling up to RM336 million.

Police have so far found 91 different mule accounts, attributed to 73 company accounts and 18 personal accounts. Tedy is their main suspect, while his two sons were placed in two different companies as proxies to buy properties.

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