JJPTR making a comeback, but old members not too keen

GEORGE TOWN: Controversial money game operator JJ Poor To Rich (JJPTR) is said to be making a comeback with a new investment scheme.

It has been introducing a “more attractive incentive and reward structure” scheme called Nexcoinz to its old members via a 25-page PDF file since a few days ago.

Old members are being enticed to join the new scheme by converting their previous investments into USD coupons, which is also known as the Nex coupon. Members can then either sell the coupons for cash or use them for future investments on the Nexcoinz platform.

Members of Nexcoinz are allowed to buy between 0.2 and one unit of the virtual currency where they could make a 25% profit after a shares split exercise. Previously, JJPTR members were asked to invest between US$25 and US$1,000 (RM107.50 and RM4,300) and promised a monthly return of 20%.

Although the new scheme looks attractive and is expected to be launched very soon, some old JJPTR members are not interested anymore.

An investor, who wished to be known only as Yong, said she had lost faith in such investment schemes.

“I invested US$1,000 after Chinese New Year and when I heard that the scheme was going to collapse, I asked for a refund.

“Until today, I have not heard anything from them. I don’t think they are sincere in returning my money,” said the 32-year-old engineer.

It was a case of once bitten, twice shy for another investor, Ken Tan, who also put in US$1,000 in the old JJPTR scheme.

“To me, no matter what, the concept will still be the same.

“I am not keen anymore. I had gone through a bad experience. There’s no easy money to make in this world,” said the father of three.

The JJPTR investment scheme collapsed in April after the company claimed to have lost US$400mil (RM1.7bil) to a purported hacking job.

Its founder Johnson Lee and two of his aides were arrested by police on May 16 and released on police bail on May 23.

JJPTR, JJ Poor to Rich and JJ Global Network are the three forex trading entities listed on the website, www.jjptr.com. The companies are among the 394 entities and individuals that are on Bank Negara’s Financial Consumer Alert list as of Aug 28.

The company is now operating on a new website – www.nexcoupon.com. Attempts to reach Lee were unsuccessful.