JJPTR mulls over taking legal action against media

GEORGE TOWN: Troubled high-yield investment scheme company JJPTR is mulling the possibility of taking legal action against the media.

The warning comes after reports alleged he transferred some RM300 million to a Hong Kong account registered under the name of his father.

The message was conveyed to the media by staff at the main office in Jalan Perak here who claimed founder Johnson Lee had contacted them to pass on the message.

Staff said Lee told the media to provide clarification on the matter or face possible legal action.

His father reportedly was not happy with such reports which he claimed defamed him and wanted police to investigate.

The father, identified in media reports as a former lecturer of a college in Johor, has since lodged a police report in Johor Baru on Tuesday afternoon.

Meanwhile, checks on the JJPTR Facebook page showed an uploaded document of the new scheme.

The new scheme comes after the earlier one purportedly collapsed when the company claimed its trading account was hacked resulting in losses of some RM500 million.

Among others, the new scheme reportedly promises monthly returns of 35%, more than the 20% the previous scheme promised.