Now, founder of collapsed JJPTR offers new scheme with 35% returns

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GEORGE TOWN: Investors in the failed JJPTR investment scheme are now, surprisingly, interested in investing in a new scheme devised by the founder of JJPTR.

And why not? Johnson Lee is offering 35% return on their investment. Under the earlier scheme they were offered returns of 20% a month.

In addition, they stand to win special lucky draws with a new car, motorcycles and smartphones as prizes.

A report in The Star today said investors in JJPTR still had faith in Lee and his new scheme. He plans to launch it on Friday.

It quoted a woman in her 50s as saying if by investing in the new scheme she could get back the money she had invested earlier, she was game.

“Although I have not gotten my capital back, Johnson (Lee) promised that the older members will receive their payment. I believe him. He is a nice young man,” she told The Star.

Another investor was quoted as saying that Lee would have fled if he was not sincere about solving JJPTR’s problem.

“I feel he is sincere in solving our problem. He’s still around and frequently tells us his whereabouts and future plans. We must give him some time to solve the problem,” she added.

According to a JJPTR employee, many investors in the earlier scheme were enquiring about the new plan.

The JJPTR scheme collapsed purportedly because of a hacked account.

The Star reported that the company’s shining glossary of the new plan did not, however, state how Lee planned to address the US$400 million (RM1.73 billion) losses he claimed the company had incurred.

It also did not explain how he planned to repay those who had lost their money in the earlier scheme.

The report said Lee had uploaded a one-and-a-half minute video where it showed that the new plan was based on a “split mechanism” and had three rounds.

Anyone who invests US$1,000 (RM4,331) is expected to receive US$450 (RM1,949) in each round, making it a return of US$1,350 (RM5,847) by the end of round three, the report said.

The company did not say when the new plan would start.

The Star said attempts to contact Lee were futile and that the number listed on the JJPTR Facebook page was out of service.

Penang-based JJPTR, or Jie Jiu Pu Tong Ren in Mandarin (salvation for the common people), came under the spotlight when investors complained that they did not get their scheduled payment last month.