Tedy Teow, the ringleader of the MBI Worldwide Ponzi scheme, was apprehended in Thailand.
Teow is accused of laundering cash from his on-line playing enterprise.
In response to the Bangkok Publish, Teow Wooi Huat, often known as Tedy, was arrested early Friday morning on the headquarters of his MBI Group empire at Dan Nok, close to the border checkpoint within the Sadao district of the southern province. In response to Pol Lt. Gen. Surachate Hakparn, assistant to the nationwide police chief, Mr. Teow, 55, was charged with cash laundering in reference to on-line playing in southern Thailand.
Malaysian authorities shut down MBI Worldwide, a $165 million-dollar Ponzi scheme, in 2017. Teow was arrested in 2017 in Malaysia. He was formally charged with cash laundering and monetary fraud in 2018.
Teow was granted bail for an unknown motive, and he promptly fled to Malaysia or Macau. Teow then proceeded to launder his MBI Worldwide funds by means of “high-end property” in Malaysia and Thailand.
Authorities in Macau finally caught on to Teow and charged him with $83 million in cash laundering in 2021.
Mr. Teow is suspected of being the mastermind behind a syndicate that duped Macau residents into investing their cash in bogus firms.
Teow was pressured to flee Macau and settle in Thailand, the place he allegedly lived a “lifetime of luxurious.” Malaysian authorities first arrested him in 2017 on drug prices.
It was unclear what occurred to these prices or how he managed to enter Thailand and reside a lavish way of life.
I am certain you may mix Teow and Teow.
It stays to be seen whether or not Thailand fared higher than Malaysia or Macau in maintaining Teow behind bars.
