Malaysian authorities arrested MBI Worldwide founder Teddy Teow in June 2017.
He was arrested once more by Malaysian authorities in Might 2018.
Regardless of dealing with expenses resulting in a minimum of 5 years in jail… Teow was launched on bail and, you guessed it, promptly fled to Macau.
We all know this as a result of Teow is now wished in Macau in relation to a $83 million greenback cash laundering rip-off.
Following Teow’s preliminary arrest in 2017, MBI Worldwide basically collapsed. Investor losses have been pegged at $165 million.
In accordance with a January twelfth report from the South China Morning Submit, Teow’s Macau rip-off noticed him “mastermind”
a syndicate that tricked folks in (Macau) into investing their cash in bogus corporations, the “administrators” of which have been apparently drug customers paid 15,000 ringgit (US$3,700) a month.
Teow (proper) funneled the proceeds of his Macau rip-off again into Malaysia. There he used the funds to buy “high-end property”.
On January third Malaysian police introduced they’d arrested twelve people in reference to Teow’s Macau rip-off. Ninety-one financial institution accounts used to launder funds have additionally been recognized.
As for Teow, now wished by each Malaysian and Macau authorities, he’s believed to have now fled to Thailand.
Officers consider Teow has fled to Thailand alongside along with his two youngsters, who’ve additionally been accused of involvement within the rip-off.
Will Thailand authorities observe Teow down and at last make an arrest stick? Or is he going to arrange a brand new rip-off and fleece Thailand out of tens of millions too?
Keep tuned!