Police yet to receive reports on MBI, Mface

GEORGE TOWN: Police in Penang have yet to receive reports on MBI International Sdn Bhd and Mface International Sdn Bhd.
Both companies have been listed on Bank Negara Malaysia's (BNM) consumer alert list earlier this week.
Penang police chief Datuk Chuah Ghee Lye said police will be keeping an eye on such schemes.
He however said investors would usually not lodge police reports if they received returns as promised.
He said such persons were hesitant to do so as they feared the dividends will stop once the authorities take action.
“We will have to wait and see,” he said in a press conference yesterday when asked about the matter.
Under the scheme offered by MBI, investors get virtual coins with a US$5,000 (RM22,500) investment at an exchange rate of RM4.50 per US$.
Investors can then use the virtual currency to redeem goods and services at outlets which accept the currency.
Such schemes, including high-yield investment scheme JJPTR, are under the spotlight after JJPTR offices were raided and founder Johnson Lee was detained.
The enforcement action comes after JJPTR claims its accounts were hacked causing losses of RM500 million.
Chuah however said he was not sure if Lee would be brought back to Penang to assist in investigations.
He said Lee was wanted by a few police contingents to facilitate investigations.
“We have been given three months to wrap up our investigations and need to brief Bukit Aman soon,” he said and did not elaborate.