While the saga of JJPTR continues with fresh developments, another ‘investment scheme’ with a whopping 30% promised monthly payout is creating jitters over social media.
- 10% payouts every 10 days
- Company a year into operation already defaulting on payments
- JJPTR branch closed down
- Police begins investigating JJPTR
- Glimpses of Johnson Lee’s private life
- Lee’s father lashes out in frustration
Sin Chew Daily reported that it has been tipped by a reader that a company claiming to distribute 30% fixed monthly interests to investors has been unable to do so less than a year into its operation.
Apparently, the company which claims to be involved in plantation, fisheries and forex trading offers 30% returns for investments between US$100 and US$3,200, with 10% of the 30% fixed interests paid out every ten days. Those who invest an additional US$500 and above draw commissions from their downlines at 1% every ten days or 3% a month.
According to The Star, Richway Global Venture’s Facebook page has been deluged with posts from people who allege that the company defaulted on the promised 30% payments. Some claim not to be able to log on to their accounts.
On JJPTR, the latest news is the company is believed to have shut down its operations in Penang. The Sun Daily reported today that a JJPTR branch named JJ 006 closed down on Thursday evening.
Meanwhile, police said it will begin investigations following a report made in Johor. The case will be investigated under Section 420 of the Penal Code for cheating. The sole report against JJPTR involved RM2,100. Speculation is rife that losses could be as high as US$400 million.
Founder Johnson Lee is still in hiding. His neighbour said that he has not been staying at his condominium in Jelutong since two years ago and some foreign workers are renting the unit now.
Relatively unknown previously, Lee is now very much in the glare of the public spotlight and glimpses of his private life have emerged.
He donated RM1 million to his alma mater, Heng Ee High School, in August last year. His donation towards the school’s building fund for its new branch in Bayan Baru was used to build two modern Science, Technology, Engineering and Maths laboratories. The school plans to name them after Lee.
According to former principal Goh Boon Poh, the donation is the biggest the school has received from an ex-student, adding that Lee did not ask for anything in return.
Goh described him as humble, polite, helpful and generous. He said that Lee told him he has money, but was not very rich and that since his alma mater needed money, he wanted to help.
The former headmaster also revealed that Lee excelled in additional mathematics, often considered a tough subject. Apparently, Lee and his sister, who is younger by a year and also a former student of the same school, furthered their studies in the US after completing their secondary education.
Seemingly, Lee is well-liked as many of his investors still think of him as a “good person”. His image is stereotypical of multi-level marketing leaders – optimistic, inspiring, suave. Hardly camera-shy, considering the many photos of him on social media, Lee appears to enjoy dining and swimming.
In Johor, Lee’s father, Lee Thean Chye, has resigned from Southern University College (SUC) where he had served for the past year as an assistant professor. He was on a week’s leave beginning Tuesday and tendered his resignation the next day. SUC board members have accepted Lee’s resignation which takes effect immediately.
According to Sin Chew Daily, Lee declined to comment about JJPTR, saying that the more he talked, the more opportunity he would give people to attack him.
“People won’t listen to what I say. They only want to see me dead!” he said to the daily. “For the sake of SUC’s reputation, I will bear everything alone.”
He added, “You might be kind enough to publish what I have to say, but some people will post it on Facebook and distort the truth. It will be meaningless! I don’t know who came out with the report that JJPTR had infiltrated into SUC. This is very unfair!”
Apr 25, Game Over for JJPTR?