Mbi pyramid scheme The suspect, associated with the MBI Group, allegedly ran a digital currency pyramid scheme that assembled over 10 million members and involved funds exceeding 13 billion US dollars. Aug 16, 2018 · Mface was fined RM7 million for promoting the MFC Club pyramid scheme, which is an offence under Section 27B of the Direct Sales and Anti-Pyramid Scheme Act 1993. Aug 24, 2024 · MBI Group MBI Group, founded by Zhang Yufa (also known as Tedy Teow Wooi Huat) in 2009, operated initially in Malaysia. Jan 19, 2023 · In 2019, some 100 Chinese nationals allegedly cheated by the MBI’s group online pyramid scheme staged a protest outside the Chinese embassy in Kuala Lumpur. Zhang masterminded a massive crypto pyramid scheme, enticing over 10 million victims since 2012 with promises of high returns on digital currency investments. Chow said PDC had no direct dealings with MBI, whose founder Tedy Teow is facing fraud charges in China, and that the state agency’s involvement in the Bayan Mutiara Mar 26, 2025 · KUALA LUMPUR (March 26): Police are believed to have called up several corporate figures in Kuala Lumpur and Penang in their investigations related to the money trail of the now-defunct pyramid scheme MBI. Tedy Teow Wooi Huat, who formerly went by the name Terry, certainly had a penchant for wheeling and dealing. 5 million for issuing payment instrument without approval under Section 24(1) of the Payment System Act 2003, and the charge made under Section 25(1) of Aug 23, 2024 · China extradited extradition fraud Malaysia MBI Pyramid Scheme scam Tedy Teow Thailand. Last year, Malaysian police smashed a Jul 27, 2022 · In 2019, about 100 Chinese nationals staged a peaceful protest outside the Chinese embassy in Kuala Lumpur to complain that they had been cheated by an online pyramid scheme operated by MBI. Maria Slade Thu, 09 Mar 2023 Emily Deng* would regularly bump into another school mum at her local Auckland Tai Ping Asian supermarket. Issued units will probably continue to increase in value, however affiliates will likely discover issues upon trying to convert the units into real money. Bank Negara had listed MBI as a company running a dubious financial scheme. However, despite the warnings from the outside world, there were always people who unwaveringly believed in Zhang Yufa and MBI: Aug 23, 2024 · Since 2012, Zhang led the MBI Group, a criminal organization that operated a sophisticated online pyramid scheme. Dec 28, 2024 · As an online pyramid scheme that shocked domestic and foreign, MBI has repeatedly appeared in major news. Red Cafe is a painful memory, as is the sight of Penang Times Square! 0 Aug 17, 2018 · Mface was fined RM7 million for promoting the MFC Club pyramid scheme, which is an offence under Section 27B of the Direct Sales and Anti-Pyramid Scheme Act 1993. 1 day ago · But all pyramid schemes have a limited lifespan and his empire crumbled after his conviction in 2018 for a string of offences that included money laundering. Thousands of depositors stretching up to China were conned into placing deposits with the scheme. Nov 26, 2024 · Tedy Teow, founder of MBI Group, is extradited to China after defrauding over 10 million investors in a pyramid scheme involving more than 100 billion yuan Top News Latest Arrests Across the India– 22/01/2025 Key Cases Mar 27, 2025 · Penang-born MBI founder Tedy Teow Wooi Huat was deported to China from Thailand last year to assist the government there in its investigation into his role in MBI where many Chinese nationals were the apparent victims, largely because they were the late investors. Dec 4, 2022 · In 2019, some 100 Chinese nationals cheated by the MBI’s group online pyramid scheme staged a protest outside the Chinese embassy in Kuala Lumpur. According to the report, the scheme required participants to pay fees ranging from 700 to 245,000 yuan ($98 to $34,316) to join. In exchange, they were issued a virtual digital currency. Oct 30, 2016 · Turns out back in August a number of MBI International scammers were arrested in Taiwan. Through Interpol, the Chinese police sought to arrest Teow by issuing a red notice on Nov 9 2020. The group lured victims by issuing virtual digital currency and promising high returns on investment. Coincident­ally, it was in China that Teow got his “second shot at life” according to a Youtube video released in 2013. May 15, 2017 · Some of the investors flew to Malaysia in search of Teow in 2019 in a bid to recover their investments through MBI’s online pyramid scheme. Aug 26, 2024 · In China, the 58-year-old Teow is expected to face charges of cheating some two million people of 500 billion yuan (RM307bil). Most of the above currencies are issued in a non constant amount, only speculation, and no commercial application 2. Ultimately, the lead plaintiff invested in a total of 55 accounts in MFC Club, under the impression that it was a “multilevel direct selling” scheme and a financial management platform promising high returns — not a “get-rich-quick pyramid scheme”. Sources said that at least two corporate lawyers in Penang have been questioned, and documents related to property and share transactions deali Jul 25, 2021 · MBI Group was doing this pyramid scheme business and encourages members to invest money in the scheme and receive virtual coins consequently. Aug 23, 2024 · Zhang is accused of leading a $14 billion crypto pyramid scheme. The group allegedly ran a pyramid scheme involving the sale of virtual currencies and promised high returns contingent on recruiting new members. Participants Were Required to Pay Up to $34,000 in Fees 1. Mar 26, 2025 · GEORGE TOWN, March 26 — Penang Development Corporation (PDC) does not have any links to the defunct pyramid scheme MBI, said Penang chief minister Chow Kon Yeow. Aug 22, 2024 · Some of the investors flew to Malaysia to search for Teow in 2019 in a bid to recover their investments into MBI's online pyramid scheme. Oct 24, 2024 · Teow’s selling point was a pyramid scheme called MFC, which he masqueraded as a platform for a digital coin called M-Coin. Extradition and Crime The … 97 Likes, TikTok video from The Edge Malaysia (@theedgemalaysia): “Police probe into the money trail of the now-defunct MBI pyramid scheme by calling up corporate figures in Kuala Lumpur and Penang. Image from MBI International. Teow operated hotel, theme park, furniture business, property development, entertainment complexes, including a resort in Danok at the Thailand-Malaysia border. Aug 29, 2024 · At the time, he had no way to know he had just joined thousands of other Malaysians ploughing money into pyramid schemes, spanning property to cryptocurrency, that would lose them millions of ringgit. These schemes thrive on the recruitment of new members who make payments to those above them. At one stage, MBI allegedly collected several billions from investors, including depositors from China. Aug 23, 2024 · Zhang’s operation, which began in 2012, involved an online pyramid scheme offering high returns through virtual digital currencies. For those unfamiliar with the company, MBI International is a Ponzi points scheme with pyramid recruitment. Saturday 05 Apr 2025 Menu May 31, 2018 · KUALA LUMPUR: Tedy Teow Wooi Huat, the founder of MBI Group International Sdn Bhd, has claimed trial at the Sessions Court here yesterday on the charge of issuing unauthorised electronic money. The scheme lured victims by issuing virtual digital currencies and promising them high returns on their investments. Jan 31, 2023 · Another MBI slide presentation in English told potential recruits that they needed to bring more members into the company to move up to a higher level in the corporation and earn more money — a hallmark of pyramid schemes, in which entrepreneurs advertise a fraudulent business opportunity and then earn money off recruiting new people to buy Aug 23, 2024 · According to the ministry, since 2012, the MBI group, led by the suspect Zhang, has reportedly engaged in illegal pyramid schemes by issuing virtual digital currency, requiring participants to pay Oct 25, 2019 · In its second statement, it explained that on October 17 about 100 Chinese nationals had approached the embassy to complain of being “cheated” through a Malaysian online pyramid scheme Aug 23, 2024 · Zhang Moumou, the leader of the notorious MBI Group, was extradited to China from Thailand after a global manhunt, marking a significant achievement in China’s fight against economic crime. Since 2012, this criminal organization has been running a sophisticated online pyramid scheme, luring victims by issuing virtual digital currency and promising high returns on investment. Local media are claiming it’s ‘the longest-running financial scheme founded in Penang‘. The company was also fined RM2. They sound like, look like, and on the surface, perform like legitimate investment companies but are actually just tricking people out of their money. 庞氏骗局，是对金融领域投资诈骗的称呼，是金字塔骗局（Pyramid scheme）的始祖。在中国，庞氏骗局又称“拆东墙补西墙”或“空手套白狼”。简言之就是利用新投资人的钱来向老投资者支付利息和短期回报，以制造赚钱的假象，进而骗取更多的投资。很多非法的传销集团就是用这一招聚敛钱财的 Aug 29, 2024 · Malaysian authorities have said that MBI Group International was used as a front for numerous scams and pyramid schemes, including what police called the Macau Scam, through which Teow and his two Oct 29, 2019 · On October 17, more than 100 Chinese nationals had approached the China embassy in Malaysia to complain of being “cheated” through a Malaysian online pyramid scheme, demanding that the company, MBI Group International, return their money. G EORGE TOWN: Penang chief minister Chow Kon Yeow has rubbished claims that the Penang Development Corporation (PDC) had dealings with the now-defunct pyramid scheme firm, MBI International. Malaysian authorities have frozen 91 bank accounts linked to MBI Group International, amounting to RM177 million. The victims alleged that they were cheated by an online pyramid scheme operated by MBI Group International. ”. Aug 23, 2024 · Chinese investors said Teow defrauded about two million people out of ¥500 (RM307) billion through MBI's online pyramid scheme. Investigations are ongoing. After he was released from prison, he continued to do his old job, and combined some of the former criminals in the red island fraud case to establish a Malaysia MBI pyramid scheme. Aug 23, 2024 · China has deported the first suspect, an MBI group founder from Thailand for carrying out crypto pyramid scheme of more than 13 billion US dollars. Bank Negara has listed MBI as a company running a dubious financial scheme. Oct 24, 2024 · In a desperate bid to reclaim their investments from MBI’s alleged online pyramid scheme, hundreds of aggrieved Chinese nationals flew to Malaysia in October 2019 to search for Tedy. As the pyramid grows, the chances of sustaining it dwindle, leading to inevitable financial losses for the majority of participants. Jul 5, 2017 · KUALA LUMPUR: The authorities are still in the midst of its probe into the MBI Group International pyramid scheme, and is now gathering evidence. A director of the company was fined RM5 million under the money Mar 30, 2025 · The police’s investigation into the MBI scheme illuminates the dark underbelly of pyramid schemes and their devastating impact on individuals and the broader financial landscape. Fees ranged from 700 yuan ($98) to 245,000 yuan ($34,300), with promises of substantial returns on investments. An ongoing investigation by Malaysian authorities has revealed the MBI Ponzi scheme saw 350,000 affiliates lose 700 million MYR ($165 million USD). Jun 21, 2017 · Then, yesterday, the founder of the MBI Group, operating a pyramid investment scheme, was arrested in an operation coordinated by the attorney-general’s chambers (AGC). Jan 12, 2021 · Police believe the fugitive businessman is hiding in Thailand with his children after a scam based on cryptocurrency and high-end property; Case has earned Teow the moniker ‘Jho Low 2’ over Aug 26, 2024 · It existed during a time when there were plenty of get-rich-quick schemes in Penang that promised high returns – JJ Poor To Rich, Richway Global Venture, Mama Captain, and Change Your Life Jul 28, 2022 · He first made headlines for running… a pyramid scheme cafe? We got this image from his own company’s website. Selangor cops probing use of fake Datuk Seri title 04 Apr 2025, 07:13 AM Aug 23, 2024 · Chinese investors said Teow defrauded about two million people out of ¥500 (RM307) billion through MBI’s online pyramid scheme. Jul 27, 2022 · Tedy Teow, the founder of MBI – Mobility Beyond Imagination – can now start imagining himself being restricted in prison cells in three different countries, all of which want him for Jun 20, 2017 · Several enforcement agencies today seized RM688,000, several luxury vehicles and froze millions of ringgit in bank accounts linked to MBI Group International, which was accused of running a Aug 22, 2024 · The Malaysian authorities froze 91 bank accounts linked to MBI Group International totalling RM177 million. Earnings were linked to recruiting new members and the level of funds invested. Last year, Malaysian police smashed a syndicate Sep 28, 2018 · Why pyramid schemes are unsustainable. To date Malaysian authorities have seized 207 million MYR ($48. The following is a run down in English, from a third-party translation and that of Kasey Chang. There were about 200 Chinese nationals who have come to Malaysia because of the MBI case. They held multiple peaceful demonstrations in front of the Chinese Embassy in Kuala Lumpur, MBI’s office at Ampang Avenue, the Jinjang Selatan police station Aug 24, 2024 · MBI Group presented itself as a legitimate business conglomerate, but in reality, it ran a pyramid scheme that exploited individuals by charging exorbitant fees for membership in a cryptocurrency investment program. Aug 23, 2024 · Zhang allegedly orchestrated the scheme through a group known as “MBI Group,” starting in 2012. Stay vigilant against pyramid schemes that dangle the illusion of easy money. Oct 18, 2019 · BehindMLM published its MBI International review back in mid 2016. Whether Malaysian authorities take further action against the scheme remains to be seen. Chow said PDC had Sep 2, 2022 · In 2019, about 100 Chinese nationals staged a peaceful protest outside the Chinese Embassy in Kuala Lumpur, saying they had been cheated in an online pyramid scheme operated by MBI. A pyramid scheme is a business model which, rather than earning money (or providing returns on investments) by sale of legitimate products to an end consumer, Aug 23, 2024 · Zhang, who had been on the run since 2020, was the head of the MBI Group, a criminal organization that had been operating a sophisticated online pyramid scheme since 2012. Some people say that he is a natural businessman who has gone astray; others say that he is the "ancestor of pyramid selling" and the biggest liar in Malaysia. Authorities estimate the total funds involved in the scheme exceeded Mar 26, 2025 · Police are believed to have called up corporate figures in Kuala Lumpur and Penang in their probe into the money trail of the now-defunct MBI pyramid scheme. Zhang allegedly began his operation in 2012, attracting investors to his ‘MBI Group’ with promises of high returns. Victims paid between 700 Yuan ($98) and 245,000 Yuan ($34,300) in cryptocurrencies to join the scheme. It’s been said that when he was a schoolkid in the 70s, he used to bring stuff like pencils Jan 19, 2023 · In 2019, some 100 Chinese nationals allegedly cheated by the MBI’s group online pyramid scheme staged a protest outside the Chinese embassy in Kuala Lumpur. Jan 14, 2025 · Founder of now-defunct MBI pyramid scheme During his heyday between 2014 and 2018, Tedy Teow Wooi Huat was the “rainmaker” for some Penang property owners. Last year, Malaysian police smashed a syndicate involved in a Macau scam said to be linked to Teow and his two sons, the media reported. Kau Fong Seng, 35, Teow Ee Meng, 27, and Wong Weng Torng, 38, were accused of receiving the Oct 25, 2024 · Those on MBI pyramid apex made money from MBI scheme but those late entries at the bottom lost everything. MSB Group pyramid scheme made over $14 billion in more than a decade. It was reported by various media yesterday that Teow was charged under Section 25(1) of the P Mar 26, 2025 · Police are believed to have called up corporate figures in Kuala Lumpur and Penang in their probe into the money trail of the now-defunct MBI pyramid scheme. Related News. Basically, the objective of pyramid schemes is to make money out of recruitment, instead of assets. Feb 26, 2025 · MBI pyramid scheme collapses: Zhang Yufa returns to China for trial, justice is revealed The huge scam behind the 100 billion-dollar pyramid scheme. Aug 23, 2024 · Following an investigation, Teow is suspected of running a pyramid scheme and defrauding people, many of them thought to be Chinese nationals, out of money by tricking them into buying MBI’s 【世界不会因为坏人而毁灭，袖手旁观的人才是祸首】爱因斯坦 贸消部：没有人举报，我们没注意到金字塔传销 贸消部的这句话，就应该对他打脸了。 保护公民与消费者利益本来就是他们的责任。但是因为办公司的冷气太冷，装修太豪华，让大家都不能够专心工作！ Nov 13, 2019 · Penang isn’t done with unpleasant surprises as two more popular financial schemes have also been red-flagged by Bank Negara Malaysia: MBI International Sdn Bhd and Mface International Sdn Bhd, both of which are subsidiaries of MBI Group International. Aug 23, 2024 · Global Reach of MBI's Fraud: Although MBI Group's operations were largely focused on China, its fraudulent schemes had international implications, with members in multiple countries, including Malaysia, where Teow was first arrested in 2017 during a local crackdown on pyramid schemes. All of them belong to online financial pyramid selling, and the servers are all overseas, so it is difficult to investigate and deal with MBI is a pyramid scheme this kind of MLM operation has the following characteristics: 1. Zhang Yufa: Malaysian, native to Chaozhou, Guangdong Province, was arrested and sentenced. Jun 1, 2017 · MBI International’s business model sees affiliates invest in GRC Ponzi points and participate in pyramid recruitment. Aug 23, 2024 · Zhang, who has been on the run since 2020, was the head of the notorious MBI Group. The scheme lured over 10 million members into paying fees ranging from 700 yuan ($98) to 245,000 yuan ($34,300) to obtain memberships, which included cryptocurrency offerings. The police in Shanghai and other places also successfully shut down MBI's fraudulent dens. Since 2012, this criminal organization has been running a sophisticated online pyramid scheme, luring victims by Jun 7, 2018 · AMPANG: Three directors of investment scheme operator MFace International Bhd have claimed trial at the Sessions Court here yesterday on 11 charges of money laundering involving RM122. All of them belong to online financial pyramid selling, and the servers are all overseas, so it is difficult to investigate and deal with May 23, 2017 · BehindMLM reviewed MBI International mid last year. Authorities have also frozen four company bank Oct 22, 2019 · But in the end,It is just a capital plate under the cloak of blockchain, a pyramid scheme that has been rumored for a century. Zhang Yufa, whose ancestral home is in Guangdong, is the third generation of Chinese in Malaysia. This ongoing investigation not only affects those directly involved with MBI but also serves as a stark reminder of the vigilance required when engaging in Jan 18, 2020 · Money Game s, be it the Ponzi Schemes or Pyramid Sch emes, are not new to Malaysians, from the “Pak Man T elo” illegal investment scheme in 1992 that had caused m ore than 50,000 Aug 23, 2024 · He founded the MBI Group conglomerate in 2012. Through Interpol, the Chinese police sought to arrest Teow Jan 14, 2025 · Founder of now-defunct MBI pyramid scheme During his heyday between 2014 and 2018, Tedy Teow Wooi Huat was the “rainmaker” for some Penang property owners. Once celebrated MBI founder Tedy Teow (black jacket) with fans in 2013. Affiliates can exchange GRC points for goods and services through the company, but it is far more lucrative to exchange them for cash. Jun 13, 2016 · As with all pyramid schemes, once recruitment of new MBI International affiliates dies off, so too will commissions paid out. In 2019, some of those Chinese nationals had flown to Malaysia looking for Teow in a bid to recover their investments in MBI’s online pyramid scheme. Its core product was the trading of digital coins, called M-Coins, that was not sanctioned by Bank Negara Malaysia. It started in Penang in 2012 and by 2016, the MFC pyramid scheme had expanded to China, Taiwan, Japan and even New Zealand. Teow later fled to Danok, Thailand, where he extended his tentacles – and even had roads named after MBI – until he was arrested by Thai police and handed over to authoritie­s in China. 88 million. According to scam media reports, to become a MBI member, newcomers must apply for virtual currency with a value ranging from 700 to 350000 yuan. Aug 23, 2024 · Teow was accused of organising pyramid schemes, defrauding investors and operating a multi-level marketing business The Chinese police sought to arrest Teow by issuing a red notice through Interpol on Nov 9, 2020 after it was reported Teow had cheated up to some two million people with many Chinese nationals falling victim to his dubious schemes. Aug 24, 2024 · Following an investigation, Teow is suspected of running a pyramid scheme and defrauding people, many of them thought to be Chinese nationals, out of money by tricking them into purchasing MBI's Jul 23, 2022 · MBI Group International made headlines in October 2019 when scores of Chinese nationals rallied outside the embassy in Kuala Lumpur, claiming they had lost their life savings to the company. As part of the pyramid scheme, participants were required to pay fees ranging from 700 yuan ($98) to 245,000 yuan ($34,300) to obtain platform membership, authorities said. A few months later in August, top MBI International affiliates were arrested in Taiwan. 4 days ago · MBI was a pyramid scheme based in Penang that traded digital coins not sanctioned by Bank Negara Malaysia (BNM). Following the arrest of founder Teddy Teow and MBI’s collapse, investors are only now beginning to realize their losses. According to the MSP, Zhang has been the mastermind behind a scam syndicate since 2012. Mar 26, 2025 · Penang chief minister Chow Kon Yeow has rubbished claims that the Penang Development Corporation (PDC) had dealings with the now-defunct pyramid scheme firm, MBI International. MBI International’s business model sees affiliates invest in GRC Ponzi points and participate in pyramid recruitment. 5 million over an unauthorised payment instrument. Developers and owners of malls, buildings and hotels would wait outside his office at the Penang Times Square to try to dispose of their property to him. May 19, 2023 · Pyramid Schemes: Watch Out for the Shape. MBI’s Other Ventures: Beyond the MFC token, MBI expanded A top official of MBI Group International has been remanded to assist in investigations into a pyramid scheme. MBI was a Ponzi scheme based on GRC Unit Ponzi points. Aug 23, 2024 · The instigator of all this, the founder of MBI, is Zhang Yufa. 5 million for issuing payment instrument without approval under Section 24(1) of the Payment System Act 2003, and the charge made under Section 25(1) of Dec 31, 2024 · All of these further strengthened their confidence in MBI Group and its investment schemes. Local media reported […] Jul 23, 2022 · MBI Group International made headlines in October 2019 when scores of Chinese nationals rallied outside the embassy in Kuala Lumpur, claiming they had lost their life savings to the company. Image from HowStuffWorks. Mar 26, 2025 · MBI, which was founded by Tedy, was a pyramid scheme that was based in Penang. Over the course of 200+ comments, a number of die-hard investors defended the Ponzi scheme. MBI affiliates invested up to $35,000 in GRC Units, the internal value of which was set by MBI. MBI is a pyramid scheme this kind of MLM operation has the following characteristics: 1. The Malaysian authorities froze 91 bank accounts linked to MBI Group International, totalling RM177mil. Jul 22, 2022 · A subsidiary company was fined RM7 million over a pyramid scheme and RM2. Oct 12, 2024 · Teow’s selling point was a pyramid scheme called MFC, which he masqueraded as a platform for a digital coin called M-Coin. Aug 23, 2024 · Recently, the Chinese government has successfully banished an economic crime suspect from Thailand, marking an essential step in its fight against financial crimes. Stay updated on the investigation with kmpp penang, Malaysia police car, and military police Malaysia. Jun 21, 2017 · BehindMLM reviewed MBI International in June, 2016 and concluded it was a Ponzi scheme. After that, there were constant news reminders to the public - MBI is a pyramid scheme. Behind the seemingly attractive investment opportunities, there is actually a huge scam that destroyed countless families. Oct 24, 2024 · In a desperate bid to reclaim their investments from MBI’s alleged online pyramid scheme, hundreds of aggrieved Chinese nationals flew to Malaysia in October 2019 to search for Tedy. To put it crudely, money games are pyramid schemes dressed up as investment platforms. According to public information, MBI's full name is "Malaysian Enbi Love Group", which was founded in 2009 by Zhang Yufa, a third-generation Malaysian Chinese. . 2 million dollars USD) connected to MBI. These schemes recruit members at seminars, home meetings, phone calls, emails, snail mails or social media, so if anyone comes across these recruitment drives, they might think it May 30, 2018 · An official of the MBI Group that is alleged to have been operating a pyramid investment scheme claimed trial at the Sessions Court here on a charge of issuing unauthorised electronic money. After that, they would be able to change these coins into points for consumption of goods and services in MBI retail stores such as M Mall and give generous returns each year after a year of “brooding Aug 23, 2024 · Zhang, who has been on the run since 2020, was the head of the notorious MBI Group. spcj selcr avvs ekhtlfe frcmaky tfgz kspbkp wlwb tkhrrj nqtufkpi ormre hawr jeiqg gnrz odpsfl