However, operations at the stores it runs opened and closed as usual yesterday and there was no rush by members to spend their redemption credits at these stores.
Members were sent a message via WeChat yesterday urging them to stop discussing the company’s system in public places to avoid unnecessary attention, according to a report in The Star.
The message also expressed the hope that members would help defend the company and that they would only believe its official releases.
The Star said another message, purportedly also from MBI management, urged members not to comment on investigations by the authorities on social media.
“Please remain silent, and walk with us together to overcome the crisis,” the message said.
Yesterday, Domestic Trade, Cooperatives and Consumerism Ministry enforcement chief Mohd Roslan Mahayudin was reported as saying 91 bank accounts with funds totalling RM177 million had been frozen following raids on various locations linked to MBI Group International on Monday.
He said the accounts had been frozen under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. The accounts – 43 company and 48 individual – are at eight different banks.
Meanwhile, The Star quoted an unnamed investor as saying both MBI and Mface, another subsidiary of the group, had been in the spotlight several times.
“Not only in Malaysia – authorities in Taiwan, Thailand and other countries also kept an eye on the scheme. But we are not worried,” The Star quoted him as saying.
“Most of the investors in Malaysia know that MBI will not be legalised in the country, but who cares? We know the company will not collapse,” he said.
The Star checked out M Mall here, one of the places raided, and where shoppers use loyalty reward points in exchange for goods.
It found that operations had not been affected by Monday’s raid and Wednesday’s announcement that 91 accounts linked to the group had been frozen.
An apparel and accessory store shop assistant at the mall told The Star that loyalty points were still being accepted as the management had not said otherwise.
She said there was no rush by members to spend their credits, and everything was normal.