Mface Club boss detained
GEORGE TOWN: The boss of Mface Club@ Mfc Club, a financial scheme (pyramid scheme), was detained by the authorities and RM685,612 cash seized after raiding three luxury residences owned by the suspect in Sungai Dua, Butterworth and Kulim, Kedah on Monday.
The suspect, in his 50s, was detained at Taman MBI, Kulim under Ops Token 2 by the Domestic Trade, Cooperatives and Consumerism Ministry’s enforcement during a raid that started at 6.30am.
The raid was carried out after a month-long surveillance and investigation with the help of Bank Negara Malaysia (BNM), police, Registrar of Companies Malaysia (SSM), CyberSecurity Malaysia (CSM) and the Attorney General’s Office.
Domestic Trade, Cooperatives and Consumerism Ministry’s enforcement director Datuk Mohd Roslan Mahayudin said during the first raid at a house in Taman MBI Kulim, RM187,612 cash and RM218,000 in currencies from various countries, three luxury cars - Jaguar, Range Rover and Vellfire - worth RM1.55 million were seized.
Mohd Roslan said during a second raid carried out at the suspect’s house, nothing was seized but during the third raid at the suspect’s house in Sungai Dua, Butterworth, RM280,000 cash was seized.
Following the detention of the Mfc Club @ Mface Club owner which comes under the MBI Group, the authorities also froze four accounts owned by the suspect and his relatives, worth about RM30 million.
“Thus far, the total amount frozen in 98 accounts that belonged to the suspect and his relatives, comprising 49 companies and 49 individual accounts, amounted to RM209 million,” he said.
Mohd Roslan said the ministry was also working closely with foreign authorities, especially from China, because it involves investment from China.
“The suspect will be remanded for four days and investigated under Act 613 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001,” he said.
“This operation is a follow up from our first operations on May 29 under Ops Token I on Mface Club in Lembah Klang and M Mall in Penang,” he said.
When asked if this recent operation was meant to cripple the whole illegal money scheme, Mohd Roslan said the freezing of the bank accounts and seizure of cash and cars should somehow stop the operations of the company.
“We have frozen the accounts, by right their operations should have been crippled,” he said.
He added that the MBI Group’s other subsidiary companies, about 20 of it, will also be investigated.
When asked why everything had appeared normal in M Mall in Penang where business is as usual, Mohd Roslan said the mall is still allowed to continue operating as usual.
“They can continue as normal until we complete investigations into this whole case, let us finish our investigations first,” he said.
He also advised the public and businesses against joining the illegal money scheme.
“We hope those who are already in the scheme can also step forward to lodge reports with us to help in investigations,” he said.
So far, he said no “investors” of the scheme had lodged reports against MBI Group or its subsidiaries.