Thailand has detained Tedy Teow, the mastermind of the MBI International Ponzi scam.
According to the authorities, Teow was found laundering cash from his online gambling enterprise.
The Bangkok Post states that Teow (right) is a “Malaysian millionaire”;
Teow Wooi Huat, commonly known as Tedy, was detained early on Friday morning at the MBI Group empire’s headquarters in Dan Nok close to the border post in the Sadao area of the southern province.
The assistant to the head of the national police, Pol Lt Gen Surachate Hakparn, said that Mr. Teow, 55, had been charged with money laundering in connection with internet gambling in southern Thailand.
Malaysian police broke down the $165 million Ponzi scam MBI International in 2017.
In 2017, Teow was detained in Malaysia. He was legally accused of financial fraud and money laundering in 2018.
Teow was granted bail for an inexplicable reason, and he then immediately left for Macau or Malaysia.
Teow then started using “high-end property” in Malaysia and Thailand to conceal his MBI International earnings.
Teow in 2021 with an $83 million money laundering criminal prosecution when Macau authorities caught on.
Police suspect that Mr. Teow was the brains behind a network that defrauded Macau residents into putting their money in phony businesses.
As a result, Teow left Macau and relocated to Thailand, where he reportedly had a “life of luxury.”
He was first detained in 2017 on drug-related accusations by Malaysian police.
It was unknown what became of the allegations or how he crossed into Thailand and lived a lavish life.
You can undoubtedly combine Teow with Teow.
It would be interesting to watch how Thailand does in keeping Teow behind prison compared to Malaysia and Macau.