Tedy Teow, founder of the MBI International Ponzi scheme, is set to be extradited to China.

Teow (aka Teow Wooi Huat) (right), fled Malaysia sometime after 2018 after his original 2017 arrest.

Following an ongoing investigation into his disappearance, Teow was arrested in Thailand last July.

Malaysian authorities have charged Teow with money laundering and financial fraud, alleging MBI International was a $165 million Ponzi scheme.

Teow laundered at least $83 million through Macau, which saw Chinese authorities file separate criminal charges against him in 2021.

This is where things get interesting.

Two months after Teow’s arrest Chinese authorities put in an extradition request. Malaysia waited five months before filing their own extradition request on January 3rd.

On the basis that China filed for extradition first, and despite Teow being a Malaysian national, a Thai court granted China’s extradition request yesterday.

The three-judge panel told Teow, who was present via video conference from Bangkok Remand Prison, that China had an extradition treaty with Thailand since March 7, 1999.

In his defense against Chinese criminal charges, Teow’s attorney claimed “his client was falsely accused by a Thai political party and Chinese politicians.”

Riiiiiiiighhhhhh……t.

As reported by Benar News on January 18th;

Teow has 30 days to appeal the order – if he does not or his appeal fails, he could be sent to China within 90 days. If his appeal is granted, he could be freed.

In China, Teow could face a prison term of five years or longer if convicted, according to the Thai attorney general’s office which sought the extradition at China’s request.

I’m not sure what the timeline is for Teow’s inevitable appeal. We’ll keep an eye out for updates on his extradition proceedings.

 

Update 24th August 2024 – Teow was extradited to China on August 20th, 2024.