JJPTR collected RM1.7b since inception: Police

GEORGE TOWN: Troubled high yield investment scheme JJPTR has so far collected a whopping RM1.7 billion so far.

Bukit Aman Commercial Crime Investigation Department (CCID) Director Datuk Acryl Sani Abdullah Sani said the company was ostensibly offering a forex trading scheme with the promise of 20% on returns.

He said police have to date received two police reports on the matter and investigations were carried out for cheating under the Penal Code.

Acryl Sani also confirmed simultaneous raids were conducted by multiple monetary enforcement agencies on eight JJPTR offices in Penang on the afternoon of May 12.

These agencies consist of the CCID, the Anti Money Laundering (AMLA) force, Internal Revenue Board (IRB), Bank Negara Malaysia (BNM), National Revenue Recovery Enforcement (NRRE), Securities Commission Malaysia (SSM) and Cybersecurity.

He said police have detained 15 staff of JJPTR as well as four investors, aged between 23 and 40, to record their statement and for documentation processes.

He said seven computers and laptops, cash counting machines, hundreds of JJPTR documents, close circuit television (CCTV) recorders and RM3,300 cash were seized in the raids.

He said several JJPTR accounts were frozen under the Anti Money Laundeting, Anti Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

He told the public to exercise caution so as not to be cheated by such schemes.

"If an investment offer of high returns in a short time comes, immediately check with the relevant authorities," he said in a statement.