A MALL in George Town that trades only in “virtual currency” was today raided by officers of Companies Commission of Malaysia, Domestic Trade, Co-operatives and Consumerism Ministry, and Bank Negara Malaysia (BNM).

About 30 officers raided the management office on the fifth floor of the mall on Jalan Datuk Keramat in Penang about noon and left after 5.30pm with a trolley laden with boxes believed to be filled with documents. 

It is learnt that the investigation was led by federal police from Bukit Aman. 

While the raid was taking place, reporters and photographers were told to vacate the floor by a security officer and two auxiliary policewomen. 

The security officer claimed the presence of the press near the management office was making customers going to a property developer’s office on the same floor “uncomfortable”. 

M Mall is run by MBI International, a company said to be operating a money game. The company was recently put on Bank Negara Malaysia’s financial consumer alert list. 

The company is said to offer returns via an electronic shares platform.

Investors are given points every few weeks according to the sum of their investments, which are in US dollars. They also earn commissions when they get new investors to join the scheme. 

The points can be used to purchase goods and services at affiliated retail outlets, cafes, restaurants and hotels in Malaysia and Thailand. M Mall, which has a supermarket, restaurants and a gym, is among the outlets where investors can shop with their points.

The company, which has been operating for about eight years, has many customers from China. – May 29, 2017.