MBI Group International founder Tedy Teow Wooi Huat, 51, is no stranger to controversy – he was a key figure in the Island Red Cafe franchise from 2008 to 2010.

Teow, whose company is currently under the spotlight for its virtual money scheme, and his son Chee Chow, 28, have been jailed before for cheating and misleading investors in the cafe chain scheme.

In August 2011, the Ampang Sessions Court in Kuala Lumpur sentenced both father and son to a day’s jail each and fined them a total of RM160,000.

Teow, who was Syarikat Island Red Cafe Franchise Sdn Bhd executive director then, and his son, also a director of the company, had pleaded guilty to fraudulently inducing 93 people to invest a total of RM1,040,400.

They committed the offence at the company’s premises in Pandan Indah in Ampang between Jan 1, 2008, and Feb 28, 2010.

MBI has come under the spotlight after it was red-flagged by Bank Negara on May 22 for having a questionable financial scheme.

The authorities then raided M Mall, a shopping mall which MBI runs here, and its M Square logistics centre in Ampang, Selangor, on Monday, and froze 91 bank accounts containing RM177mil linked to the company on Wednesday.

MBI has since urged its members to keep a low profile and not discuss the probe in public.

Members put money into its scheme and get a number of virtual coins in return.

After an “incubation period” of over a year, they can then convert these coins into loyalty reward points to spend on goods and services at retail establishments under the MBI umbrella, such as M Mall.

The scheme is said to give substantial returns each year and is believed to be the longest-running financial scheme founded in Penang.

Its membership is said to be in the millions, from countries such as China, Thailand, Indonesia, Singapore, the Philippines, Hong Kong, Taiwan and Malaysia.

Teow is believed to be from Penang.

According to the company’s website, Teow set up MBI Group International in 2009.

A hotel in Jalan Sultan Ahmad Shah and a Chinese restaurant in Jelutong here are also said to be “closely associated” with the company as its members could spend their points at both places.

A check with the Companies Commission of Malaysia showed MBI International Sdn Bhd is registered under Teow Mooi Goay, 47, and Teow Ee Meng, 26, with Khoo Kien Hor, 47, as secretary.

The shareholders are Ee Meng and Chee Chow, with capital of RM1mil.

Ee Meng is also believed to be the son of Tedy Teow.

Meanwhile, it was business as usual at M Mall yesterday. There did not seem to be a rush by MBI members to use up their points there.

Merchants there were still accepting the points for purchases.

An MBI member, who wished to be known only as Kumar, said he came to the mall after hearing talk that it would be closed down but was assured by an employee at the information counter that there was nothing to worry about.

MBI management official Teow Ling Ling, when contacted by phone, said the mall was operating as usual.

Asked about the latest developments in the company following Monday’s raid, she hung up after saying: “We have no comment.”

Efforts by reporters to get comments from the mall’s management office drew a blank.

http://www.thestar.com.my/news/nation/2017...UIRDmgsoQ13L.99

Already con 1 mil only 1 day jail & 160k fine.

Where the fuck is the justice on that

Whats new?

EVeryone know this is a ponzi, even the investor does. THey just hoping they can make some money before it collapse.

Its like sending the wrong message to all scammers that u can actually get away with very very very lenient sentence.

Scam 10mil 5 days jail & 1mil fine?

Balance 9mil enjoy 99999

Penang.. And scammer tidak berpisah

Semua kena tiow 😞

waiting mbi tutup

Penang land of ponzi scammer?

Penang .
Capital of scam in Mesia.

Sudah kena kencing or member kena Teow already

in msia, the more you con, the lesser your punishment...
tengok itu 2.6b

The face like teddy bear

Dont really understand the sentence for scamming... scam so much but only 1 day jail and also pay lesser than total of money scammed.

if you know many VIP in Malaysia, you also can get 1 day jail for cheating people's money

scamming sounds rike gud way to make moneh, even if u get caught

Why nobody check his background before ?

They have resort in dannok and few projects too in there.
Now what's gonna happens?

quoted for truth
meanwhile later shariah laws pass and curi roti kena potong tangan

I havent been to the dinosaurland yet

It suck

But near dinasour ada taman babi

in the (uk) law, there is the confiscation order which confiscates the amount of whatever proceeds from that crime. the courts can order restitution, and the victims could also sue.

Island red cafe used to be a legendary talk last time

Blardee fool why people keep falling into such scheme

govr need money right now

if you hv money to fine (pay)

then govr happy !

u r free !

Actually PAST scams /SOP can be used by him to justify his credentials for EARLY BIRD greedy investors. Since early birds usually gained profit.

Next there will a person called Char Kuey Teow

I suspect a lot of the early 'investors' did, and they figure they can make good money by going in early.

Which they did.

Now all these late suckers who just jumped int kena kaw kaw.

But now BNM say they are going to investigate all these folks for helping to abet money games.

Dai sei.

damn scammer... really teow nia seng

Last time this Red Island Cafe very famous scam.

This time people fail to alert about this scammer.

Hidup jjptr

Clap clap clap
Ayam recruiting macai
Interested?

it all began after Penang fall into the hands of DAP

oh wai..

谁是凌源？ 你的老母？

justice may be blind, but it can see in the dark

thing is, greedy and ignorant fellas are everywhere



Tedy Teow Wooi Huat

http://behindmlm.com/mlm-reviews/mbi-inter...nit-investment/

http://www.bangkokpost.com/print/843736/


Police raid MBI Group company

Published: 29/01/2016 at 03:59 AM
Newspaper section: News

Authorities seized foreign currencies worth more than 83 million baht from a leading foreign company in Songkhla's Sadao district during a crackdown on foreign mafia gangs yesterday.

A combined team of authorities yesterday raided MBI Group, in tambon Samnaktham of Sadao district, said the Special Task Force's chief Col Paisan Nusung who led the crackdown yesterday.

An initial investigation also found the MBI Group has many subsidiary companies and was suspected of carrying out money laundering activities, police said.

The company has run six hotels, nine apartments, two resorts and several tourist spots including animal farms in Sadao district, with an investment value of 2 billion baht, according to police.

A Malaysian national serves as a managing director, while Nunthapak Panuwattanakul and Nopparoj Siripattanathanapak serve on the board of directors which runs the company's business in Sadao district, police said.

Police raided an MBI Group company premises, the Wai Hotel in Moo 7 of Sadao district, seizing the Thai and foreign currency haul, police said. The money was kept in a room on the hotel's fourth floor, police said.

Police are seeking help from the Department of Special Investigation and the Anti-Money Laundering Office to launch a probe against the MBI Group's business and track the money trail, Col Paisan said.

Located in tambon Samnaktham, KPK Hotel serves as a meeting point for local high-ranking authorities, according to a source from the Internal Security Operations Command Region 4.

MBI Group is believed to be linked to the death of a Malaysian land developer, Lee Ah Han, who was gunned down in Hat Yai last month, police said.

Lee was an influential figure in Songkhla building an intricate web of contacts with police, state officials and villagers, and jointly ran a hotel belonging to the MBI Group in Sadao district.

-----------

more pics here

http://www.manager.co.th/South/ViewNews.as...D=9590000009960

This post has been edited by JimbeamofNRT: Jun 2 2017, 02:45 PM

yup

plenty of gullible greedy fellas out there mate

https://forum.lowyat.net/topic/615035


same case like sunshine empire.

HAHAHAAA...!!!

I dont mind being jail for 30 days if can get RM160k/day

Some /k tard thinks he will be a bank CEO. Lol

monspace
mcoin
mspace

http://www.thesundaily.my/news/1974531

Mcoin, proponents added to Bank Negara's alert list
Posted on 23 May 2017 - 10:39am

Lee Weng Khuen
sunbiz@thesundaily.com
Print

PETALING JAYA: MFace International Sdn Bhd and its parent MBI International Sdn Bhd, the proponents of the well-known digital currency Mcoin based in Penang, is now on the Financial Consumer Alert List by Bank Negara Malaysia (BNM) due to “unlicensed activities undertaken”.

This latest addition to the alert list follows a money game tsunami that led to the collapse of several schemes, including JJPTR, Richway, WMS, CYL, Gaming 339, in the last two years. MBI was founded by Tedy Teow in July 2009.

SunBiz had on Sept 19, 2016 reported on Mcoin, citing its allure to many investors in the country, particularly those from Penang, due to the attractiveness of its returns. At that point, MFace and and MBI were not on BNM’s watch list.

Mcoin has been in circulation in the past four to five years, with the setting up of its “flagship store” M Mall in Penang and the development of the Asian Cultural Village in Dannok, Thailand.

What makes Mcoin, which is issued through MFace, particularly appealing is that its value keeps increasing and the creation of more units at a “splitting point”.

The sustainability of its business model is also underpinned by the everlasting amount of Mcoins that one can have, as only 55% from the sale of the coins will be realised in the form of cash. Of the balance, 30% is allocated for coin buyback, 5% for Mpoint and the balance for company service charges. Mcoin investors can use their points to redeem goods at M Mall.

Despite its existence for some years now however, the two companies were only included in Bank Negara’s alert list yesterday, bringing the number of companies under close monitoring by the central bank to 302.

When contacted, a Bank Negara spokesman declined to comment on MBI and MFace, except to say that the media will be alerted if there are further developments.

Some investors that SunBiz spoke to last year said they had earned handsome profits from the scheme through networking, particularly the early batch of investors. However, for those not actively involved in networking, it took more time to get significant returns.

Attempts to contact the two companies for comment were not successful.
MFace’s filing with the the Companies Commission of Malaysia shows that it is principally involved in providing social localised network solution and advertisement services. It has not updated its financial statements since 2013. In 2013 the company reported a narrowed net loss of RM510,632 in 2013 against RM916,158 in 2012.

Its parent company MBI, meanwhile, incurred a widened net loss of RM2.51 million in 2011 compared with RM8,900 in 2010. MBI is listed as being engaged in operating convenience stores, as well as dealing in body lotions, shampoo products, mattresses and general trading. Its businesses are spread across Asia, including China, Hong Kong, Taiwan, Thailand, Indonesia, Singapore and the Philippines.

Interestingly, a check on MBI website shows that Tan Sri Musa Hassan is no longer listed as the consultant for the group. A “Master” Geoffrey Pak is now the group corporate development adviser.

MFace has four directors, namely Wong Wen Torng, Kau Fong Seng, Teow Ee Meng and Chiok Kian Chau, who was only appointed on Dec 27, 2016.



can hear the dialogue
"BOLEH PERGI JAUH TAK ORANG KITE NAK MASUK NI"

semua salah lge.

Last time under BN, no such problem. Peaceful, happy life, fairness equality and caring gomen.

Now very developed, a lot of investors making things expensive, traffic jams, many singaporeans come AND Gelakan very unhappy!

At this point, all those early "investors" will do everything they can to make sure MBI do not fall even if that means have to pull more new people in to cushion and prop up the scheme.

Once the government decided that the scheme is just another money game, all those early "investors" are going to get investigated as well together with their big boss.

in a glance i thought ur saying joining those will yield me RM160k/day.. owaii

this Tedy and MBI got many complicated lubangs one. mbi mface ivory properties etc that one in malaysia only. overseas TH CH everywhere also got.

hahaha... well I am sure Warren Buffett will also invest in it LOL

Scam 1 million, jailed 1 day and fined rm160k before

No wonder scam and fraud schemes are booming in bolehland

ya cheaper than paying income tax!

If found guilty what kind of punishment these people will get?

Bcs I did read many of them claim to made good money from this?

If they invested 10k and made 100k and found guilty they just pay a few k fine or what???

ppl curi sardin just to eat kena 2 year. bodo

Welcome to our Bolehland
Where all is rosy, all is grand
Cheat a million, jail for a day
Cheat by the billions, get clean away!

Dunno arr...they didn't say...

rules of the game: be smart. con gullible greedy people. if kana also lighter sentence.

not so smart: go whack people rompak people if kana shot down die on the spot

u guys ever heard white collar conmen kana shot by authority before?

Penang like heaven

Founder island red cafe.....lol

Win

mana tedy fans?

diam diam already

Deswai, he didn't scam enough
If he scam 2.6b lagi best, no jail no fine

that y dap very strong there

penang people ez kena scam

pundek. u must be mistaken me for ah rott

I where got new felali f12 like big boss coffeedude

scammer

a day trip to the jail?
wew

Jho Low also from Penang

yea

u know what? he got that Bell 429 heli too

i am willing to go to jail for 1 week and fined for RM1,112,000 for a RM 7 million con. Untung RM6 million!!!

what weed are you smoking?

me rich? I where got rich?

I'm just a koolie working for people

yea... lhdn is watching like hawk nowadays