Police arrest JJPTR founder and two top associates (Updated)

PETALING JAYA: Police have picked up JJ Poor To Rich (JJPTR) founder Johnson Lee and two of his right-hand men in Petaling Jaya today.

Bukit Aman Commercial Crime Investigation Department (CCID) director Commissioner Datuk Acryl Sani Abdullah Sani said the trio were nabbed at around 4.30am today.

"A team of policemen from Federal CCID picked up the three locals including, Johnson Lee.

"The three suspects are aged between 28 and 29-years-old," he said in a statement today.

Acryl Sani said two of Johnson's right-hand men, are also his personal assistants.

"Police seized a Honda Accord, five handphones, several documents relating to the JJPTR scheme, cheque books, 11 debit cards, credit cards and RM20,936 cash," he added.

He added the suspects will be brought to the Klang Magistrate Court for remand under Section 420 of the Penal Code for cheating.

The troubled high yield investment scheme has so far collected a whopping RM1.7 billion.

Acryl Sani had previously said the company was ostensibly offering a Forex trading scheme with the promise of 20% on returns.

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

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.

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.

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.

Several JJPTR accounts were frozen under the Anti Money Laundering, Anti Terrorism Financing and Proceeds of Unlawful Activities Act 2001.