Single mum borrows to invest in schemes

GEORGE TOWN: Single mother Y.L. Sim yearned to be rich overnight. About two years ago, she borrowed money from Ah Long in the hope of multiplying her investments in money games.

The 53-year-old said she took RM20,000 from a few loan sharks to dabble in several money games, including JJPTR.

“My neighbours introduced me to a few schemes, saying that I could make easy money from these. The returns were good in the first few months. Then I became greedy and started to invest more in other schemes as well,” she said.

Sim, an office cleaner by day and beer promo­ter by night, said because of her greed, she didn’t settle her debts with the Ah Long and instead, just paid the monthly interest.

Today, she still owes money to the loan sharks.

“There are so many money games around the country, especially in Penang, like Mface, which has been in operation for seven or eight years.

“Besides JJPTR and Mface, I also put money in Mama Captain, CYL, Richway Global Venture and others.”

Sim said with JJPTR now collapsing, she was worried the same fate might befall the other companies too.

“JJPTR is considered a big boss here in Penang because of its popularity and if it could collapse, I fear for the others,” she said.

Sim added that she also roped in her two adult daughters to invest in JJPTR early this year.

“That’s probably my biggest mistake. I really feel bad because they lost about RM10,000 each from their life savings,” she said.

Attempts to contact the companies mentioned were unsuccessful.