It S China For Fugitive Businessman Tedy Teow Say Thai Police

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Former MBI Group founder “Tedy” Teow is wanted by police in China and Malaysia for investigations into an investment scheme. (Facebook pic)BANGKOK: Malaysian fugitive businessman “Tedy” Teow is expected to be deported to China soon, although Malaysian police have also requested for his repatriation.
Assistant national police chief Pol Lt-Gen Surachate Hakparn said this during a press conference at the Thai police headquarters today.
“(We are) preparing to send him to China,” he said.
Malaysia and China are after Teow who is on the Interpol red notice list for questioning.
Teow was taken into custody by Thai immigration on July 22 after his visa was revoked. Since then he has been awaiting deportation.
Malaysian police said on July 25 that they were in the process of applying for Teow to be repatriated to Malaysia for investigations into cheating.
He was also wanted by Beijing police following a suit filed by about 400 investors from China to recover investments of some RM100 million.
Teow was supposed to be repatriated to Malaysia on Aug 9 but was stopped at the airport as Thai authorities also received an extradition request from the Chinese government.
The 55-year-old Teow founded the MBI Group and operated entertainment complexes, including a resort in Danok at the Thailand-Malaysia border. He also built a business empire from dubious online investment schemes that attracted investors from China, Thailand, Malaysia, Indonesia and Macau.
Teow was arrested by Malaysian authorities in 2017 on drug charges which carry the death penalty but he bolted to Thailand.
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.
The same year, Malaysian authorities froze 91 bank accounts totalling RM177 million linked to MBI Group International. Bank Negara had listed MBI as a company running a dubious financial scheme. - FMT

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