POLICE reports have been mounting against money game operator JJPTR (JJ Poor to Rich) with 26 lodged in Penang so far. 

The reports were by investors claiming they had not received returns since JJPTR claimed that its forex trading account had been hacked in late April.

Penang commercial CID chief Asst Comm Abdul Ghani Ahmad said three investigation papers had been opened on the case.

“Our investigation in Penang alone involves investments of RM239,310. Of that amount, people got only RM30,332 in returns. More than RM209,000 is lost,” he told reporters at the Penang police headquarters today. 

Ghani said the probe was ongoing to establish grounds to charge the money game operator. 

“We have finished (the probe) with its founder Johnson Lee. He is out on police bail. He is around, not missing.

“Now we are gathering evidence to see if we have grounds to press charges,” he said.

Ghani also said Bukit Aman was monitoring the investigation under Section 420 of the Penal Code for cheating.

“We are looking at the case from all angles, including money-laundering under AMLA,” he said, referring to the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act. 

In the early stages of the case, only about 10 police reports were lodged.

Investors were offered a 20% monthly return for investing between US$25 and US$1,000 in the scheme which started in May 2015.

The Penang-based scheme ran into trouble in late April when Lee announced that JJPTR’s trading account had been hacked, causing the company to lose over RM1.7 billion.

Lee pledged to return investors’ funds in stages and even planned a new scheme to replace the old one, but his plans were hampered with his arrest in Kuala Lumpur on May 16.

After a series of re-arrests and remand extensions, he was released on police bail on May 23. He has been lying low ever since.

Last week, a Taiwanese man representing 50 investors lodged a police report in Kuala Lumpur. The case has been referred to the Penang police. – July 3, 2017.