LEDANG: Investigations into JJ Poor to Rich (JJPTR) suggest tens of millions of ringgit could have been moved to overseas accounts.
There were no traces that its computers were hacked as claimed by its operator Johnson Lee.
Police sources said investigations did not show the company was involved in any foreign exchange trading (forex).
It is learnt that a team of officials from Bukit Aman and Bank Negara has frozen some accounts worth millions of ringgit.
However, the bulk of the money has since been moved overseas.
The team was also ascertaining if the actual amount lost was RM1.73bil and whether there were actually tens of thousands of victims both locally and abroad.
“There is also a possibility that Bank Negara will try to work with its counterparts overseas to check on the money trail,” said the sources. They said several reports, including one in Ledang, Johor, have been lodged.
JJPTR grabbed headlines a few weeks ago when the company claimed that it lost US$400mil (RM1.738bil) to a purported hacking job.
Investors panicked when the 20% monthly interest they were promised was not deposited into their accounts in April.
In Ledang, a woman in her 20s lodged a police report claiming that she did not get her returns after investing in the scheme earlier this year.
Sources said the woman claimed that she had invested RM4,700 in the scheme and received RM840 each month.
It is learnt the woman said she was not involved in money laundering but invested in the scheme to make some fast returns.
Police have since classified the case as Section 420 of the Penal Code for cheating.
Sources said police expect more reports nationwide and overseas, following the arrests of the company’s top officials.