JJPTR founder de­nies fal­si­fy­ing state­ments

> Lee charged with giv­ing false de­tails about com­pany sta­tus


BUT­TER­WORTH: The founder of con­tro­ver­sial in­vest­ment scheme JJ Poor To Rich (JJPTR) John­son Lee ( pix) was charged at the ses­sions court yes­ter­day with mak­ing false state­ments about the sta­tus of his com­pany, JJ Global Net­works Sdn Bhd.

Lee, 29, was charged with mak­ing false state­ments in­volv­ing the de­tails in his dec­la­ra­tion dur­ing his ap­pli­ca­tion to strike off his com­pany name, declar­ing his com­pany had not even started busi­ness when it was cor­po­ra­tised.

He was al­leged to have com­mit­ted the of­fence at the Com­pa­nies Com­mis­sion of Malaysia’s (SSM) Penang of­fice at Level 6-7, Ban­gu­nan KWSP, off Le­buh Teng­giri 2, Ban­dar Se­berang Jaya on Dec 15, 2016.

He claimed trial to the charge un­der Sec­tion 364 (2) of the Com­pa­nies Act 1965 (125 Act), and faces a max­i­mum 10-year jail term or a RM25,000 fine or both.

Lee, who was in a red shirt, ap­peared calm when the charge was read to him be­fore judge Noor Aini Yu­sof.

SSM se­nior pros­e­cut­ing of­fi­cer Faizal Mahdi Mah­mud sug­gested bail of RM10,000 with one surety.

How­ever, de­fence coun­sel Nick Tan Meow Khoon urged for a lower amount, adding that his client had been co­op­er­a­tive dur­ing in­ves­ti­ga­tions.

Noor Aini al­lowed bail of RM6,000 with one surety and fixed April 12 for case man­age­ment.

JJPTR came un­der the spot­light last year af­ter it claimed losses of RM500 mil­lion af­ter its trad­ing ac­count was hacked.

Af­ter po­lice re­ports were lodged, si­mul­ta­ne­ous raids were con­ducted by mul­ti­ple mon­e­tary en­force­ment agen­cies on eight JJPTR of­fices in Penang last year.

The agen­cies were the CCID, the Anti Money Laun­der­ing force, In­ter­nal Rev­enue Board, Bank Ne­gara Malaysia, Na­tional Rev­enue Re­cov­ery En­force­ment, Se­cu­ri­ties Com­mis­sion Malaysia and Cy­ber­se­cu­rity.

Sev­eral JJPTR ac­counts were frozen un­der the Anti-Money Laun­der­ing, Anti-Ter­ror­ism Fi­nanc­ing and Pro­ceeds of Un­law­ful Ac­tiv­i­ties Act 2001.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.