Three men, among them founder Johnson Lee, linked to Malaysia’s most resent and audacious false-prophet of profit money game, JJ Poor To Rich (JJPTR) were charged at a magistrate’s court today.
The multi-level marketing scheme, under the stewardship of Lee, promised investors unfathomable returns. Unfortunately, few saw anything more than a monthly payment, and pretty soon they began demanding their money back.
What later transpired could only be described as farce, with Lee claiming that the scheme had lost over RM1.7 billion (US$400 million) via a hacking job, and that he and “his friends” would figure this out internally.
In what will likely come as a shock to no one reading this, subsequent regulator investigations found zero evidence of hacking in the JJPTR money game investment scheme. Gasp.
In fact, according to investigators, there’s no evidence they even did any forex trading, at all. Surprise, surprise.
However, officers did find an extensive money trail that showed the majority of millions of RM taken, was later moved into foreign bank accounts. This was beyond the reach of the authorities.
Lee later told 31,000 of his angry investors that he would refund them, as soon as they joined his new investment plan, as soon as they gave him more of their money. Like the bank transfer from a mythical Nigerian Prince, no money ever materialized.
All of this monetary malfeasance carries a penalty under Section 420 of the Penal Code that includes a jail term of up to 10 years, whipping and a fine.
Meanwhile, no number of lashings will reimburse the money lost by the tens of thousands of hopeful investors.
Remember kids, if it sounds too good to be true, it probably is.
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