Malaysian and Chinese police have seized $900 million tied MBI International, a Ponzi scheme run by Tedy Teow Wooi Huat (aka Zhang Yufa).

As reported by the South China Morning Post on June 11th, 2025;

Chinese and Malaysian police have seized over 3.8 billion ringgit (US$900 million) of assets – including yachts and property – from a syndicate alleged to have duped millions of people throughout the Asia-Pacific with promises of high-return investments.

Seventeen people were arrested last month under Ops Northern Star. One of them was a major property developer who allegedly helped launder money for MBI through a web of businesses.

Police have seized assets including four luxury yachts worth 36 million ringgit and over 475 real estate plots valued at 150 million ringgit. They also froze 37 bank accounts holding nearly 330 million ringgit.

Authorities have pegged Teow’s total haul at $14 billion, marking years of inactivity between MBI’s 2009 launch and Teow’s first arrest in 2017.

Following another 2022 arrest in Thailand, a Chinese extradition request stuck and Teow was handed over in August 2024.

There have been no public updates on Teow’s status since his extradition to China.