GEORGETOWN — June 20, 2017: The boss of Mface Club @ Mfc Club, a financial pyramid scheme, has been detained and RM685,612 in cash seized after enforcers raided three luxury residences in Sungai Dua, Butterworth and Kulim yesterday.
The suspect, in his 50s, was detained under Ops Token 2 by the Domestic Trade, Cooperatives and Consumerism Ministry.
The raid was carried out after a month-long surveillance and investigation with the help of Bank Negara (BNM), police, Registrar of Companies (SSM), CyberSecurity Malaysia (CSM) and the Attorney-General’s Chambers.
The ministry’s enforcement director Datuk Mohd. Roslan Mahayudin said that during the first raid in Kulim, RM187,612 and RM218,000 in various currencies and three luxury cars worth RM1.55 million were seized.
During a second raid at the suspect’s house, nothing was seized but during the third raid at another of the suspect’s house in Sungai Dua, RM280,000 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 belonging to the suspect and his relatives, amounted to RM209 million.
Roslan said the ministry was working closely with foreign authorities, especially from China, because the scheme involves investments from China. — Bernama