MBI investors unfazed by founder’s arrest, seizure of funds

penang-mbiGEORGE TOWN: MBI Group International, whose founder was briefly arrested and funds seized, continues to not only enjoy a strong presence in Penang but also the continued confidence of its investors.

Although the authorities are taking action against the money game company, none of its investors have lodged a police report yet, unlike other money game operators where investors had.

The Star reported today that MBI’s logo was still visible in various places such as bus stops and on tour buses plying the roads of Penang.

Also, passengers at Penang Interna­tional Airport in Bayan Lepas were greeted by the firm’s logo emblazoned on the aerobridge.

The Star reported that the M Mall, where members converted their virtual coins to loyalty points to buy groceries, household products and even cars, was doing brisk business.

It said also doing well were a hotel on Jalan Sultan Ahmad Shah and a Chinese restaurant in Jelutong, believed to be “closely associated” with the company where members could spend their loyalty reward points.

It is believed MBI is also involved in property development in Kulim, Kedah.

An MBI investor told The Star: “The authorities are just doing their job to carry out an investigation. We are convinced there is nothing wrong and the founder will be all right.”

MBI Group International was set up in 2009.

Domestic trade, co-operatives and consumerism ministry enforcement chief Mohd Roslan Mahayudin said recently that they had detained the founder of MBI for four days.

The authorities also froze four bank accounts with deposits totalling RM30 million and seized luxury cars and cash in raids on three premises in Penang and Kedah on Monday morning.