BUT boy oh boy, the money generated by these scams and pyramid schemes were by no means peanuts, prior to this year.
TAKE the RM300 billion that is said to have come from abroad mainly from China into Malaysia for the benefit of the MBI Group by drug kingpin turned fraudster Tedy Teow Wooi Huat, who is also known as Zhang Yufa in China.
ACCORDING to the Edge, READ : More than two million victims in China are estimated to have been deceived into investing in MBI.
THE South China Morning Post meanwhile states that READ : The Tedy Teow fraud syndicate had stolen over 100 billion yuan (US$14 billion) from more than 10 million investors in an operation that began in 2012.
How Tedy Teow, a pudgy 58-year-old from Penang, managed to operate for nearly a decade after falling afoul of authorities, very early in the game remains a mystery.
``He was slapped with a 160,000 ringgit fine as far back as 2011 for misleading investors yet rebounded to find a “second chance” in China, he said in a 2013 video biography he released on YouTube,`` the South China Morning Post demanded to know.
THE Bank Negara Governor, from 2000 to 2016, Ungku Zeti Akhtar binti Ungku Abdul Aziz, should be the correct women to answer these questions, on scandal which is far more bigger than even 1MDB.