MBI debacle: Why did it take so long?

Finally, it appears that China-Malaysia authorities are cracking down on thr infamous MBI scheme. But what took them so long?

Years ago, everyone and his dog/cat in Penang already knew something was up. It didn’t take a genius to figure out what was going on.

Small get-rich-quick schemes were busted. But MBI continued as the “good times” rolled on. Some of those linked to MBI were operating openly within a stone’s throw and full view of Komtar.

But deep down we knew the good times would not last forever.

Now, some 11 million ‘investors’ have suffered including a couple of million perhaps in China. No wonder China extradited MBI boss Tedy Teow @ “Jho Low 2” from Thailand.

The total amount these investors lost could rival or surpass what was lost in the 1MDB case. Some of those linked to MBI were operating openly within a stone’s throw and full view of Komtar.

How far did the MBI tentacles spread? Where did the billions ‘invested’ end up? What were the funds used for? Was MBI linked to any politician and if so, who?

Did Bank Negara do enough to protect the interests of the public in Malaysia and beyond?

Check out this CNA article: China-Malaysia crackdown on alleged Ponzi scheme rattles Penang’s corporate, political circles