From wheeling and dealing in millions, Lee claims to be an odd job worker now when requesting for lower bail.
The 29-year-old founder of the JJ Poor to Rich (JJPTR) investment scheme has pleaded not guilty to a charge of falsifying documents submitted to the Companies Commission of Malaysia (SSM) in 2016.
Lee Choong Sen, also known as Johnson Lee, was charged at the Sessions Court in Butterworth today with submitting false details in his declaration when applying to strike off his company’s name, as required under Section 308(1) of the Companies Act 1965.
He was alleged to have declared that JJ Global Networks Sdn Bhd never started doing business since it was established, despite knowing it was false.
The declaration was allegedly made at the SSM office in Seberang Jaya on Dec 15, 2016.
The offence under Section 364(2) of the Companies Act 1965 provides for a maximum jail term of 10 years, a maximum of RM250,000, or both if convicted.
Lee was represented by G Jaya Prem and Nick Tan Meow Khoon while the SSM prosecuting officers were Faizal Mahdi Mahmud and Mohd Fairuz Othman.
Faizal requested for the court to set the bail at RM10,000.
Lee’s lawyer Tan, however, said the bail should be at RM5,000, taking into consideration the cooperation given by his client to the authorities so far and he has no intention to run away.
He also told the court that Lee is currently an odd job worker earning between RM3,000 and RM5,000.
Judge Noor Aini Yusof set the bail at RM6,000 and announced April 12 for mention.
It was reported that JJPTR was a ‘money game’ scheme which promised lucrative returns, as high as 20 percent, for its members.
The scheme went bust last April after the company claimed to have lost US$400mil (RM1.7 billion) to a purported hacking job.
Lee and two of his aides – Lim Seong Woei and Pang Chee Peng – were arrested by police on May 16 and released on police bail on May 23, 2017.
Last September, the trio claimed trial to cheating at the magistrate’s court in Kuala Lumpur.
They were accused of deceiving Yeoh Kian Lai, 45, to invest in the JJPTR investment scheme, which promised allegedly non-existent profits.
May 20, JJPTR Trio on the Move
May 19, JJPTR ‘Hack’ of a Lie!
May 12, JJPTR Raid, Bank Accounts Frozen
May 3, Once Bitten, Twice Not Shy
Apr 25, Game Over for JJPTR?