Tedy Teow, head of the MBI Worldwide Ponzi scheme, has been arrested in Thailand.
Authorities allege Teow was caught laundering cash from his on-line playing enterprise.
Citing Teow (proper) as a “Malaysian billionaire”, the Bangkok Put up stories;
Teow Wooi Huat, also referred to as Tedy, was arrested on the headquarters of his MBI Group empire at Dan Nok close to the border checkpoint in Sadao district of the southern province early Friday morning.
Mr Teow, 55, was charged with laundering cash in reference to on-line playing in southern Thailand, mentioned Pol Lt Gen Surachate Hakparn, assistant to the nationwide police chief.
MBI Worldwide, a $165 million greenback Ponzi scheme, was shut down by Malaysian authorities in 2017.
Teow was arrested in Malaysia in 2017. In 2018 he was formally charged with cash laundering and monetary fraud.
For some odd motive Teow was launched on bail, after which he promptly fled Malaysia or Macau.
There Teow set about laundering his MBI Worldwide proceeds by way of “high-end property” in Malaysia and Thailand.
Authorities in Macau finally cottoned on. Teow with an $83 million cash laundering legal case in 2021.
Police consider Mr Teow was the mastermind behind a syndicate that tricked individuals in Macau into investing their cash in bogus firms.
This prompted Teow to flee Macau and resettle in Thailand, the place apparently he lived a “lifetime of luxurious”.
He was initially arrested in 2017 by Malaysian authorities on drug costs.
It was unclear what occurred to these costs and the way he managed to cross into Thailand and dwell a lifetime of luxurious.
I’m positive you possibly can put Teow and Teow collectively.
Whether or not Thailand fares any higher than Malaysia and Macau in holding Teow behind bars stays to be seen.