Malaysian Billionaire Extradited from Thailand to China for Money Laundering

[webfact]

 

Today, "Tiao Hui Huat", a Malaysian billionaire and owner of the MBI Group empire, was extradited to China to face money laundering charges. Tiao’s arrest follows an Interpol red notice and marks a significant development in a long-standing legal dispute.

 

In July 2022, Tiao was apprehended at the Thai-Malaysian border by authorities acting on an Interpol red notice. He was wanted in both Malaysia and China for allegedly orchestrating a Ponzi scheme that duped investors out of substantial funds. To escape prosecution, Tiao had relocated to Thailand, where he operated for nearly a decade, contributing significantly to local tourism and public projects, especially around the Thai-Malaysian border.

 

On 20th August, the Foreign Affairs Division accepted the request from Chinese authorities to extradite Tiao. He is accused of running a pyramid scheme in China that involved recruiting participants to invest in direct sales products falsely pitched as legitimate business services. The recruitment process required new members to pay for services or products to gain membership, creating a complex web of deceptive financial transactions.

 

Tiao’s extradition was initially scheduled within 90 days from the court’s final judgment on 21st May. The Chinese Embassy in Thailand coordinated closely with local authorities to ensure his smooth transfer. On the day of the extradition, Tiao was moved from Bangkok Special Prison to Suvarnabhumi Airport, where he boarded a Shanghai Airlines Flight FM 834 to Shanghai under heavy security, reported Thai Rath.

 

Interpol's involvement dates back to November 2020 when Chinese authorities identified Tiao’s involvement in running a fundraising network disguised under the façade of multi-level marketing. The scheme prompted numerous Chinese citizens to invest under false pretenses. Similarly, Malaysia had issued an arrest warrant for Tiao over related charges of running fraudulent investment schemes.

 

Throughout his time in Thailand, Tiao became a well-known figure, investing in various sectors including hospitality, real estate, and tourism. His contributions to the local economy included constructing luxury hotels, entertainment venues, and notable landmarks such as Thailand's tallest Ganesha statue, valued at 50 million baht.

 

Despite claims of earlier involvement in a drug trafficking ring—later proven unsubstantiated—Tiao has now been returned to China, where he faces prosecution for his financial crimes. This extradition underscores the importance of international cooperation in addressing transnational criminal activities.

 

TOP Picture courtesy: Thai Rath

 

-- 2024-08-21

 

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[sammieuk1]

So it's only a red bull red notice that doesn't work then🤔

[ronster]

3 hours ago, webfact said:

To escape prosecution, Tiao had relocated to Thailand, where he operated for nearly a decade, contributing significantly to local tourism and public projects, especially around the Thai-Malaysian border

A decade 😂 

Wonder if they will look into who he contributed to 🤔😀

[JeffersLos]

Lobin Hood.

 

Rob from the greedy, give to the Thais.

[TheFishman1]

Yeah, I am really surprised. I guess the Red Bull kid has to be like a different type of thing you know everybody got paid off so much money. Nobody wants to take responsibility that he ran over a cop and killed him then took the jet to Singapore. We sent a note saying was too sick to come back, I guess as soon as the limitation or the statue limitation expires will be seeing around Bangkok in new Ferrari TIT

[Liverpool Lou]

3 hours ago, sammieuk1 said:

So it's only a red bull red notice that doesn't work then🤔

Red notices are only advisories, they require the cooperation of both countries and whether they are acted on or not is up to the authorities of the potential extraditee's country of residence.   If that country doesn't want to send him back, that's up to them.

[Liverpool Lou]

2 minutes ago, TheFishman1 said:

I guess as soon as the limitation or the statue limitation expires will be seeing around Bangkok in new Ferrari TIT

Well that is how statutes of limitations are designed to work, legally, for everyone, in every country.

[hotchilli]

18 minutes ago, ronster said:

A decade 😂 

Wonder if they will look into who he contributed to 🤔😀

Allowed to stay and contribute to the Thai economy until China said we want him.

[ronster]

30 minutes ago, hotchilli said:

Allowed to stay and contribute to the Thai economy until China said we want him.

China wants their contributions 😀

[spidermike007]

This guy is in deep now, China doesn't fool around with people like this, especially if they're not Chinese and not well connected. My prediction is the death penalty, which I don't necessarily have a problem with, for big time scammers like this.