They are be­ing in­ves­ti­gated for cheat­ing

New Straits Times - - Front Page - HANI SHAMIRA SHAHRUDIN KUALA LUMPUR shamira@nst.com.my

THE mas­ter­mind be­hind a con­tro­ver­sial for­eign ex­change trad­ing scheme, which re­port­edly has more than 30,000 in­vestors, were among three peo­ple re­manded yes­ter­day.

JJ Poor To Rich (JJPTR) scheme founder John­son Lee, along with his right-hand man and per­sonal as­sis­tant, were re­manded for three days af­ter they were picked up in Petaling Jaya yes­ter­day.

Fed­eral po­lice Com­mer­cial Crimes De­part­ment (CCID) di­rec­tor Datuk Acryl Sani Ab­dul­lah Sani said the three men, aged be­tween 28 and 29, were de­tained for in­ves­ti­ga­tions into the du­bi­ous scheme, which was es­tab­lished two years ago.

The three men were pro­duced at the mag­is­trate’s court in Klang about 2.30pm yes­ter­day, where they were brought be­fore Mag­is­trate Nik Nur Ama­lina Mat Zaidan, who granted the three­day re­mand.

Af­ter about twenty min­utes at the court, the men, clad in shorts and T-shirts, were whisked away in a po­lice car.

Acryl Sani said to date, two in­ves­ti­ga­tion pa­pers were opened from five re­ports lodged by for­mer in­vestors.

“Fol­low­ing in­ves­ti­ga­tions and a se­ries of raids con­ducted to crip­ple the scheme, a team from CCID picked up the three men from a pub­lic place in Petaling Jaya at 4.30am,” he said.

The team also seized a Honda Ac­cord, five mobile phones, doc­u­ments re­lat­ing to the JJPTR in­vest­ments, cheque books, bank cards and RM20,936, said Acryl Sani.

Lawyer G. Jaya Prem said his clients were be­ing held to fa­cil­i­tate in­ves­ti­ga­tions into one case of fraud in­volv­ing losses amount­ing to RM56,400.

The men, he said, are be­ing in­ves­ti­gated un­der Sec­tion 420 of the Pe­nal Code for cheat­ing, which was filed by a com­plainant in Klang.

On Satur­day, 15 em­ploy­ees and four in­vestors were picked up from eight dif­fer­ent lo­ca­tions, in­clud­ing of­fices and homes, which po­lice be­lieved were used by the syn­di­cate as its op­er­at­ing premises in Pe­nang.

The raid by the po­lice was con­ducted with en­force­ment teams from Bank Ne­gara Malaysia, the Na­tional Rev­enue Re­cov­ery En­force­ment Team, In­land Rev­enue Board and Com­pa­nies Com­mis­sion of Malaysia.

Pe­nang-based JJPTR came un­der fire re­cently af­ter in­vestors com­plained that they did not re­ceive their sched­uled monthly pay­ment.

Po­lice’s early in­ves­ti­ga­tion revealed that the com­pany claimed that the in­vest­ment was a for­eign ex­change-based busi­ness.

It was re­ported that the com­pany’s founder, Lee, had claimed that the com­pany’s ac­counts were hacked, re­sult­ing in losses of US$400 mil­lion (RM1.73 bil­lion).

Lee had also an­nounced a new plan to the in­vestors, promis­ing to re­turn all of the money in­vestors had put into JJPTR’s pre­vi­ous schemes within five years.

The plan also in­cluded a new scheme with an in­creased re­turn of 35 per cent.

An event was or­gan­ised with Ger­akan to re­turn money to 100 dis­abled in­vestors.

In Fe­bru­ary, the scheme was flagged by the Philip­pines’ Se­cu­ri­ties and Ex­change Com­mis­sion, which revealed that JJPTR was not a reg­is­tered en­tity, while Bank Ne­gara Malaysia listed JJPTR, JJ Poor To Rich and JJ Global Net­work on its Fi­nan­cial Con­sumer Alert.


Po­lice of­fi­cers es­cort­ing the three sus­pects in­volved in the JJ Poor To Rich scheme at the mag­is­trate’s court in Klang yes­ter­day.

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