KUALA LUMPUR: Investigations on “money game” schemes like the controversial JJ Poor to Rich (JJPTR) will take time as they involve many complex factors, Inspector-General of Police Khalid Abu Bakar said today.
He said the police were working closely with Bank Negara Malaysia and the domestic trade, cooperatives and consumerism ministry to facilitate investigations into the “complicated” cases.
“We need to look through heaps of documents and accounts.
“We need to be given time to study the structure of a ‘money game’ scheme to identify the offences committed,” he told a press conference after a talk and signing of a memorandum between the police and Universiti Teknologi Malaysia (UTM) here.
He said among the challenges was the fact that many of the police reports lodged on JJPTR were done in China by the nationals there.
“However, we are working hard now. Many officers in the commercial crimes investigations department have been assigned to look at the issues that are involved,” he said.
The JJPTR scheme is alleged to have cheated thousands of Malaysians of up to some RM1.7 billion.
On May 16, a Bukit Aman Criminal Investigation Department (CID) team arrested its founder Johnson 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.
Khalid advised all parties to be cautious in dealing with anyone who offers investment opportunities with extremely high returns.
“If there is an investment offer with returns of more than 15% per year, we need to question it.
“Likewise, if the profits are said to come up to 20% a month, what sort of a business would that be? There must be something wrong there,” he said.
Besides JJPTR, another scheme currently under investigation is MonSpace, which came under scrutiny after the central bank included it in its updated Financial Consumer Alert list on May 11.