PETALING JAYA: Many of the claims made by the controversial JJPTR investment scheme have been debunked by the police, from the founder’s citizenship to how it made money for its investors.
Police sources told The Star that tens of millions of ringgit could have indeed been transferred overseas by JJPTR, despite its founder Johnson Lee’s denial.
Lee had on May 3 refuted allegations of JJPTR transferring some HK$18mil (RM10mil) overseas, saying the accusers were out to “sabotage” him.
JJPTR also marketed itself as a “forex scheme”, in which Lee claimed he invested his members’ money in the foreign exchange market and earned a compounding interest of 1% each day.
Initial investigations had shown that JJPTR was not involved in any forex trading, and there were no signs that its account had been hacked and robbed of US$400mil (RM1.73bil).
The scheme had marketed its 28-year-old founder as a California-born United States citizen who struggled with relative poverty, thus giving him the motivation to start Jie Jiu Pu Tong Ren (Mandarin for “salvation for the common people”) to “rescue” others in the same predicament.
Such fanciful claims were debunked when Bukit Aman Commercial Crime Investigation Department (CCID) director Comm Datuk Acryl Sani Abdullah Sani issued a statement saying that Lee is a Malaysian citizen.
Lee is a Penangite and donated RM1mil to his alma mater, Heng Ee High School, in August last year.