JJPTR founder in jail, might not make company dinner Saturday

JJPTR founder Johnson Lee may not be able to make that company dinner this Saturday at Berjaya Times Square. He and two close associates were arrested early this morning at 4:30am in Petaling Jaya. The arrests come off the heels of police reports being lodged by Investigating Officers.

On May 12, police, Bank Negara, the Companies Commission of Malaysia, Inland Revenue Department, National Revenue Recovery Enforcement Team and Cyber Security raided eight JJPTR offices in Penang. Seized in the operation were 7 computers and laptops, cash counting machines, hundreds of JJPTR company documents, televisions, CCTV cameras and RM3,300 cash.

Authorities are accusing the firm of unlawfully collecting investor funds for their money game scheme. Bukit Aman believes this revenue to total up to RM1.7 billion.

JJPTR operation collapsed last month when the 20% returns they had promised investors failed to materialize. Victims from as far as Australia, and Canada gave as little as $25USD, up to their entire life savings.

Johnson was seen week 6 May returning initial principals to a hundred customers who had physical disabilities, so one may surmise that his heart is not made entirely of stone. He had recently devised a new scheme to recover investors lost funds: give him more money and he’ll bring you 35% returns. That didn’t work out as planned.

 



Reader Interactions

Leave A Reply


BECOME A COCO+ MEMBER

Support local news and join a community of like-minded
“Coconauts” across Southeast Asia and Hong Kong.

Join Now
Coconuts TV
Our latest and greatest original videos
Subscribe on