Tedy Teow, founding father of the MBI Worldwide Ponzi scheme, is ready to be extradited to China.
Teow (aka Teow Wooi Huat) (proper), fled Malaysia someday after 2018 after his unique 2017 arrest.
Following an ongoing investigation into his disappearance, Teow was arrested in Thailand final July.
Malaysian authorities have charged Teow with cash laundering and monetary fraud, alleging MBI Worldwide was a $165 million Ponzi scheme.
Teow laundered no less than $83 million by Macau, which noticed Chinese language authorities file separate prison costs towards him in 2021.
That is the place issues get fascinating.
Two months after Teow’s arrest Chinese language authorities put in an extradition request. Malaysia waited 5 months earlier than submitting their very own extradition request on January third.
On the idea that China filed for extradition first, and regardless of Teow being a Malaysian nationwide, a Thai courtroom granted China’s extradition request yesterday.
The three-judge panel advised Teow, who was current by way of video convention from Bangkok Remand Jail, that China had an extradition treaty with Thailand since March 7, 1999.
In his protection towards Chinese language prison costs, Teow’s legal professional claimed “his shopper was falsely accused by a Thai political social gathering and Chinese language politicians.”
Riiiiiiiighhhhhh……t.
As reported by Benar Information on January 18th;
Teow has 30 days to enchantment the order – if he doesn’t or his enchantment fails, he might be despatched to China inside 90 days. If his enchantment is granted, he might be freed.
In China, Teow might face a jail time period of 5 years or longer if convicted, in accordance with the Thai legal professional common’s workplace which sought the extradition at China’s request.
I’m unsure what the timeline is for Teow’s inevitable enchantment. We’ll preserve a watch out for updates on his extradition proceedings.
