(Updated) JJPTR founder remanded for three days

KLANG: JJ Poor To Rich (JJPTR) founder Johnson Lee and two of his right-hand men were arrested early today and have been remanded for three days.
The three, comprising Lee Chong Sen also known as Johnson Lee, 28, are being held to facilitate investigations into a cheating case involving the sum of RM56,400.
Magistrate Nik Nur Amalina Mat Zaidan granted the police application for three days from today.
According to counsel Jaya Prem Krishnan and Mohd Shukri Ahmad Mansor, their clients were being investigated for the case under Section 420 of the Penal Code following a report lodged by a complainant in Klang.
The suspects, if convicted, face a jail term of not less than one year or not more than 10 years with whipping and are liable to a fine.
Earlier, Bukit Aman Commercial Crime Investigation Department (CCID) director Commissioner Datuk Acryl Sani Abdullah Sani said the trio were nabbed at around 4.30am today in Petaling Jaya.
"A team of policemen from Federal CCID picked up the three suspects including, Johnson Lee.
"The three suspects are aged between 28 and 29-years-old," he said in a statement.
"Police seized a luxury car, 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 trio were arrested at a public place near Petaling Jaya district police headquarters.
The arrests comes after weeks of reports the the JJPTR had difficulty paying investors.
Several reports had said that JJPTR had some 430,000 investors who had invested a whopping RM1.7 billion into the company.
Acryl Sani had previously said the company was ostensibly offering a forex trading scheme with the promise of 20% returns.
He said police have till to date 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.
Police detained 15 staff of JJPTR as well as four investors, aged between 23 and 40, to record their statement and for documentation processes.
Several JJPTR accounts were frozen under the Anti Money Laundering, Anti Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
In GEORGE TOWN, investors of the troubled high yield money game are worried that their money would be lost following the arrest of the three suspects today.
One investor, who only wanted to be known as Lim, 30, said her capital of RM4,700 has not been returned.
She expressed concern that the latest development would make it difficult for investors to get back their money.
Another participant, Chuah, 24, said he has received some returns after investing RM4,700 but was now equally concerned.
"I have no choice now but to wait it out," the factory worker said.
Daniel Lim, 24, said he was stunned after finding out Lee had been detained.
He said he put tens of thousands into the scheme but did not want to think about the loss if the money could not be returned.
"I will let it go as charity," he said.
A supporter of the scheme, Yen, 30, said Lee's promised new scheme will continue to attract investors.
"He will not be in the lock-up forever and people will still continue to support him," she said.
A visit to the JJPTR offices in Bandar Baru Air Itam, Bayan Baru, and Jalan Perak found the premises closed.
Penang police chief Datuk Chuah Ghee Lye said he has yet to receive instructions on conducting additional raids.
"(It) depends on orders from Bukit Aman," he said.