Troubled investment scheme calls on members to fill online claim forms

GEORGE TOWN: The company running a high-yield investment scheme has called on its members to fill up their information and the balance of capital not yet returned to them in a form via online.
The company, JJPTR, or JJ Poor To Rich, extended this offer to its members who did not break even in their investments.
It is learnt the company had sent out the message to a total of 41 group chats with its 31,000 members via whatsapp on Sunday.
According to the message, the company wants its investors to cooperate by providing the information, including their full name, membership number and the amount of capital which was not returned, and submit it as soon as possible.
"We feel touched that many of our members are supporting us although we have been framed by others," the company said in the text.
Nonetheless, the text did not state clearly that the company would return its members' capital.
A check by theSun today showed the company's headquarters, located in Jelutong, was closed.
"This morning, some guys went to their headquarters (in Penang), already empty. That's what WeChat group is saying," one user posted in an online forum on April 22.
Several reports and group chats on social media forums also said JJPTR's MetaTrader 4 account (electronic trading platform used by online retail foreign exchange speculative traders) was hacked, leaving the company with only an US$11,000 (about RM48,400) balance.
Reports of the closure came on the same day (April 22) that JJPTR's founder shared a lengthy WeChat post admitting that the company's trading account was hacked, resulting in US$50 million (about RM210 million) in losses.
The high-yield investment scheme was established on May 1, 2015.
The company accepts investments as low as US$25 and it claimed to distribute 20% returns monthly to its members.
Meanwhile, the founder of the company, via a posting on its Facebook page today, announced that a new investment plan to address the company's crisis will be implemented soon.
According to the announcement, there were differences between the current investment plan and the new one.
The founder said he will discuss the matter in detail with its state representatives, known as Introduce Broker (IB), before giving any information to its members.
"All IBs should understand the new plan in detail first, then only can we solve our members' problems," he said in the announcement, adding details of the new plan will be announced by today.
However, reports and news on the internet claim JJPTR has purportedly folded after reportedly losing some US$50 million to hackers.
On Feb 13, the Securities and Exchange Commission (SEC) issued an advisory on JJPTR that it is not registered with the commission as a corporation or partnership.
"The commission has received information that JJPTR is soliciting investments from the public. The public is hereby informed that JJPTR is not registered with the commission as a corporation or partnership.
"There being no primary licence, it is not authorised to solicit investments which require a secondary licence as provided under Sec. 8.1 of the Securities Regulation Code," SEC added.
Meanwhile, Bukit Aman Commercial Crime Investigation Department director Datuk Acryl Sani Abdullah Sani was quoted by The Borneo Post as saying that the police has yet to receive any report from JJPTR investors on the matter.