Property Developer Denies Ties to MBI Scam Investigation
Ideal Property Group has issued a firm rebuttal against viral social media claims falsely linking its executive chairman to the ongoing MBI International Group fraud probe. The company emphasized its commitment to legal compliance and ethical business practices, calling the allegations “baseless and defamatory.”
In an official statement, the property developer clarified that no arrests or investigations involving its leadership have taken place. The group has since filed reports with Malaysian authorities, including the police and the Malaysian Communications and Multimedia Commission (MCMC), while preparing legal action to counter the misinformation.
The controversy follows recent police raids tied to the MBI scam, where five individuals—including two with royal titles—were detained in connection with a Ponzi scheme. Authorities also seized durian orchards worth over RM223 million across multiple states. Earlier this year, police confiscated RM3.17 billion in assets and arrested eight suspects through an Interpol-led operation.