JJ Poor to Rich scheme founder charged with making false declaration
Johnson Lee, who had earlier been charged with fraud, is now accused of falsely declaring that his company had not started any business since it was corporatised.
Johnson Lee, founder of the controversial investment scheme JJ Poor to Rich (JJPTR), is charged in the Butterworth Sessions Court today with making a false declaration.
BUTTERWORTH: Johnson Lee, founder of the controversial investment scheme JJ Poor to Rich (JJPTR), was today charged in the Sessions Court with making a false declaration concerning the status of his company, JJ Global Networks Sdn Bhd.
Lee, 29, was charged with making the false declaration when applying to strike off his companyâs nam e at the Companies Commission of Malaysia office.
He is accused of declaring that his company had not started any business since it was corporatised.
He claimed trial to committing the offence at the Companies Commission of Malaysia office at Bangunan KWSP in Seberang Jaya, near here, on Dec 15, 2016.
The offence, under Section 364(2) of the Companies Act 1965, carries a maximum 10 yearsâ jail, a maximum RM250,000 fine or both.
Companies Commission of Malaysia senior prosecuting officer Faizal Mahdi Mahmud requested bail of RM10,000.
Leeâs counsel, Nick Tan Meow Khoon, pleaded for a lower amount, saying his client had been cooperative with the commission throughout the investigation and had no intention of running away.
Tan, who represented Lee together with G Jaya Prem, also told the court Lee was earning between RM3,000 and RM5,000 as an odd job worker.
Sessions Court judge Nooraini Yusof then set bail at RM6,000 with one s urety and fixed April 12 for case management.
Faizal was assisted by Mohd Fairuz Othman.
The scheme by Leeâs company gained widespread media attention last year after it was claimed that its funds had been siphoned off by âhackersâ, although police said they had found no evidence that JJPTRâs accounts had been hacked.
On May 16, a Bukit Aman Criminal Investigation Department (CID) team arrested Lee and two of his associates in Klang.
The arrests followed a raid on eight JJPTR offices in Penang on May 12, jointly conducted by the police, Bank Negara, the Companies Commission of Malaysia, Inland Revenue Board, National Revenue Recovery Enforcement Team and CyberSecurity, an agency under the science, technology and innovation ministry.
They were remanded until May 19 in Klang and released, before they were re-arrested and transferred to Penang where the initial police reports were made against them.
After Penang police failed to get a r emand order against the trio, they were re-arrested and transferred to Taiping where another police report had been made.
Lee and his two associates, Pang Chee Peng and Lim Seong Wei, were charged at the Kuala Lumpur High Court with fraud in September last year. All claimed trial.
JJPTRâs money game investment scheme was established in 2015 and promised returns as high as 20% a month to members.
JJPTR founder Johnson Lee still in Malaysia, say police
Source: Google News