After JJPTR, other money game operators show signs of trouble too

GEORGE TOWN: After a week of trouble plaguing high-yield investment scheme JJ Poor to Rich (JJPTR), other popular money game operators in the market have also started to show signs of heading in the same direction.

Operators of other popular schemes promising high-returns such as Richway Global Venture, Change Your Life (CYL) and BTC I- system may also suffer a similar fate, according to some investors theSun spoke to.

A 40-year-old housewife known as Lim was upset as she had invested more than ten thousand in the Richway scheme last month.

She said she did not let her husband and family members know as she wanted to earn fast cash.

Fifty-year-old engineer Tan Kim Hock said he also channeled an undisclosed amount of his savings into one of the investment schemes, but declined to elaborate.

He said his naive mindset prompted him to invest, hoping for 20% to 30% in returns monthly.

However, he said it was too late to turn back as the money he invested was now gone.

Stakeholders in business sectors also shared great concern over the growing money game trend.

Lim Kah Leong, 29, a bank consultant, told theSun many did not want to come forward to financial institutions as the interest rate was low, although plans offered by banks are protected under Bank Negara Malaysia (BNM) guidelines.

"The situation is very worrying," he said, adding that he hoped regulatory bodies could do something to curb this menace.

An insurance agent, known as Sim, also said his business had dampened since the money game trend began.

He said many of his friends preferred to set aside their savings for these investment schemes instead of a stable and protected form of savings.

Many JJPTR investors also posted their predicament on social media following the controversy surrounding the scheme.

Many vented their frustrations over having to tighten their belts and reduce expenses after their other source of income came to an end.

JJPTR founder Johnson Lee had reportedly promised to refund the investors in stages.