Lee and his associates were arrested by federal police from the commercial crimes investigation department (CCID) in Kuala Lumpur and Klang yesterday. Police said five of the JJPTR bank accounts were also frozen.
In Penang, the JJPTR offices in Perak Road, Bandar Baru Air Itam and Bayan Baru were all quiet with no sign of any staff nor any investors yesterday, according to the daily.
These were among the same offices raided last Friday by officers from Bukit Aman’s Anti-Money Laundering squad, CCID, Bank Negara, the Companies Commission of Malaysia (SSM), Inland Revenue Department, National Revenue Recovery Enforcement Team and Cyber Security.
On the online front, after weeks of posting regular updates to reassure investors, including videos from Lee and presentations of a new plan, it was discovered that two JJPTR FB pages have now been deactivated, while other pages have not been updated since last Friday.
Meanwhile, police in Penang said they will proceed with any investigation into JJPTR’s operations only upon instructions from Bukit Aman.
“We won’t jump the gun. We will wait and see the outcome of the investigations on JJPTR. There is no reason for us to call up investors to record statements, unless they come to us and make a complaint.
“The Inspector-General of Police has given us three months to investigate the matter.
“Bank Negara is playing an active role in the investigations,” Penang police chief Comm Chuah Ghee Lye was quoted as saying by The Star.
The actions by police and Bank Negara have brought to a close any hope investors have of seeing their money back, with some lamenting their loss but knowing there was no point in making any further enquiries at JJPTR offices.
Yesterday, Bukit Aman CCID director Acryl Sani Abdullah Sani said in a statement that police had detained Lee and his two assistants.
They were nabbed to facilitate investigations under Section 420 of the Penal Code for cheating.
Police also seized a Honda Accord, five handphones, documents on the JJPTR investment scheme, 11 credit and debit cards, and RM20,936 in cash from the trio.
JJPTR was thrust into the limelight after it claimed last month that its funds were siphoned off by “hackers”, resulting in the alleged loss of over US$50 million (RM217 million).
Investors had gone knocking on JJPTR’s doors when their 20% monthly returns were not banked into their accounts last month.
On April 27, the company promised to refund all investment funds collected from its 31,000 members.
Lee said this was made possible through the injection of capital by a new pool of foreign investors.
He said refunds would be given to those who had just sent in their initial investment capital as well.