More in news

News

Wednesday, 14 March 2018 | MYT 12:00 AM

JJPTR’s founder charged

BUTTERWORTH: Johnson Lee, who founded the controversial investment scheme JJ Poor to Rich (JJPTR), looked calm and confident when he arrived at the Sessions Court here to face a charge of issuing fake documents.

Clad in a red Polo T-shirt, the 29-year-old arrived with a friend at about 8.30am yesterday and stop­ped for a moment to speak to the press before entering the court.

Lee voiced his displeasure at some people whom he had helped in the past but have now turned their backs on him.

He was later charged with falsifying the Companies Commission of Malaysia (SSM) documents when applying to strike off his company’s name JJ Global Networks Sdn Bhd, which was a requirement under Section 308(1) of the Companies Act 1965.

Lee allegedly declared at the SSM office in Seberang Jaya on Dec 15, 2016, that the company had never started a business since it was incorporated.

The offence under Section 364(2) of the Companies Act 1965 (Act 125) carries a jail term of 10 years, RM250,000 fine, or both, upon conviction.

Sessions judge Noor Aini Yusof fixed bail at RM6,000 with one surety and set April 12 for mention.

Lee was represented by lawyers G. Jaya Prem and Nick Tan Meow Khoon while SSM officers Faizal Mahdi Mahmud and Mohd Fairuz Othman prosecuted.

Early last year, JJPTR collapsed in April after the company claimed to have lost US$400mil (RM1.7bil) to a purported hacking job.

More than 400,000 people were believed to have invested in it then.

The company has since shut down its official website, www.jjptr.com, and closed its offices in Penang.