Rumblings of corruption in Penang may become an earthquake
Chinese authorities force Malaysian police to act upon Ponzi scheme in Penang
Due to the relatively “closed society connections” in Penang, it’s very difficult to expose corruption. The writer did so back in an article called “Rumblings of Corruption in Penang” in October 2022, which received wroth from sections of the DAP. You don’t expose the DAP, not in Penang anyway.
But Malaysian police have been forced to pursue corruption leads in Penang, that may yet lead to the top echelons of government there.
When Chinese President Xi Jinping visited Malaysia last April, he had more on his mind than just exchanging pleasantries with Malaysian prime minister Anwar Ibrahim. President Xi wanted the Malaysian police to cooperate with China’s Public Security Ministry to track down and bring to justice those involved in a Ponzi scheme that cheated many Chinese investors.
When Malaysian Tedy Teow Wooi Huat was arrested at the MBI office in 2022 by Thai police in Songkhla, he was eventually extradited to China under a 1999 extradition treaty, the game was up with major Penang crime syndicates.
Teow has given Chinese authorities massive amounts of information which has enabled Malaysian police crack down on the perpetrators of the MBI Ponzi scheme, which gave early investors massive returns.
As reported in CNA, so far Malaysian police have recovered RM 3.8 billion from 988 bank accounts. However, much of the money MBI collected was invested in the local development scene with local business people to purchase real estate. Developers have allegedly purchased state land for large development projects, which involved top state figures up to the exco and even chief minister himself. One such development is reclaimed land near Pulau Jerejak.
Local business leaders and political leaders worried
Already a number of ‘Tan Sri’s’ have been arrested and placed in remand. Police are also investigating more property developers.
These investigations could lead all the way up to the leadership of the Penang government and ruling Democratic Action Party (DAP) hierarchy, which is also a member of the ‘unity government’.
With the Chinese authorities behind investigations, its unlikely these investigations will just disappear like previous cases concerning elite business people and politicians. Over the next few months, the net will grow wider and could bring in some ‘household names’.
As a local Penangite told the writer, this will be bigger than 1MDB.
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Perhaps your readers ought to watch the ABC 4 Corners investigation into Chinese criminals entering into Australia posing as legitimate business migrants settling there. Property prices in Australias backwaters have skyrocketed to at least $1,000,000 for small properties ad in the big cities to the 9 ad 10 digit figures because of the fact real estate is being used as a vehicle for money laundering by these Chinese criminals who steal from their government then go to places like Australia and seek refuge with their ill gotten gains.
The Australian government has been complicit in this criminal enterprise just as the state goverrnment of Penang has been knowing full well what these so called 'jet people' either arriving as refugees or 'legitimate business people' have been doing to the country and its surrounds. The lure of quick money and large amounts of it. compel them to turn a blind eye to their crimes.
https://www.youtube.com/watch?v=hGZ3DFCPrKs
The DAP and their minions who have fled to Australia or who hold a second passport like Guan Eng who studied at Monash university icluding many of his lieutenants, all who also like him have secured a second home and permanent residence in Australia are in the same category.
Then there are the likes of Hannah Yeoh and Elizabeth Wong both of who have a lot to answer for in damaging Malaysia, its poltical and economic integrity whilst pilfering state funds and handing it over to the equally complicit Ambiga Srinivasan and her lieutenants whilst the former two were in the state executive and Federal legislature. They took lots of money from Chinese goverment operatives and hot money from China, the NGO's, Regieme Change organizations as well as those thieves who also funded the Iskandar corridor which no one wants to talk about.