Mface boss detained, accounts worth RM30 mln frozen

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.

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, he said

Following the detention of the Mface Club @ Mfc Club 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 the 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. — Bernama