91 bank accounts linked to MBI frozen

PUTRAJAYA: The authorities has frozen 91 bank accounts with a total of RM177 million linked to the digital currency provider MBI following a multi-agency team raid "Ops Token" conducted on several of its premises on Monday.
Domestic Trade, Cooperatives and Consumerism Ministry's enforcement director Datuk Mohd Roslan Mahayudin said 48 of the accounts belonged to individuals and the rest owned by companies linked to MBI.
He said the move to freeze the accounts had to be made after the involved parties were suspected of conducting offences under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
"The act deals with those who were directly or indirectly involved in transactions involving revenue from illegal activities. In relation to this, a total of 91 bank accounts amounting to RM177 million have been frozen," he told a press conference at the ministry building.
On Monday, the enforcement team conducted raids on six premises related to the company in the Klang Valley and Penang, including its office on the top floor of M Mall shopping centre.
The joint operation was coordinated by the National Revenue Recovery Enforcement Team of the Attorney-General's Chamber, and led by the ministry's enforcement arm.
Other agencies involved in the raid included Bank Negara Malaysia (BNM), the police, Companies Commission of Malaysia (SSM) and Cybersecurity Malaysia.
The raid on MBI, which issues "Mcoin" digital currency usable for purchase of goods, came in the wake of enforcement action against money game company JJ Poor To Rich.
Mohd Roslan said during the raid, the team seized various documents, details of financial transactions, computer appliances and several luxury items such as branded watches, handbags and gold bars.
He also confirmed that no arrest was made during the raid as the matter is still under investigation.
"We have not decided on the action to be taken against those involved. For now, we are gathering the evidence acquired during the raid and will decide our further action later," he said.
He however said that those suspected to be involved in the matter are currently under the watch of the enforcement authorities.
Mohd Roslan said those believed to be involved with the case would be summoned to have their statements recorded.
"Whoever is related with the matter and can provide information with regards our investigations will be called," he said.
He said the raid on the premises were conducted following complaints from public, as well as based on reports published in the media.
Mohd Roslan added that the raid was conducted under the Direct Sales and Anti-Pyramid Scheme Act 1993, as well as acts under the purview of BNM and SSM.
"Investigation are being done under Section 4 of the Act for running a direct selling business without a license, and Section 27B for promoting or causing the business to be promoted as a pyramid scheme," he added.