Heng: JJPTR an alarm - Enact new laws against get-rich-quick scams to protect  rakyat

I am saddened that despite so many advisories by Bank Negara Malaysia, the police as well as our MCA Public Service and Complaints Bureau against being conned by get-rich-schemes, there are still naïve Malaysians including highly educated people who are lured by its enticements of huge return of investment in the swiftest time possible. The latest news reports on JJPTR Malaysia’s investment schemes splashing across the newspapers yesterday and today may just the latest case. To get 20% of one’s investment back monthly, and the principle within 5 months, is too good to be true which suggests depositers’ greed have overcome reason.  

Meanwhile, I also implore on the top management of Southern University College and the Ministry of Higher Education to initiate investigations unto Lee Thean Chye, director of student affairs of Southern UC as there are newspaper reports that he is the majority shareholder of JJ Global Network Holdings Bhd which operates JJPTR and the father of JJPTR founder, Johnson Lee. As there are news reports of lecturers and students taking part in this scheme, the investigations must uncover if both senior and junior Lee’s had abused their positions to persuade or cajole lecturers at this esteemed college to participate or recruit downliners for this get-rich-quick scheme. Similarly, did the senior Lee spend more attention on his business operations than on Southern UC’s affairs? Appropriate action must be taken including dismissal of the senior Lee is found guilty of misusing his position or violating teaching code of ethics. No doubt entrepreneurship is taught in school, nevertheless, education institutions are constructed for the pursuit of academia, not to be distracted by income churning activities for a private entity that it totally unrelated with the education institute.

The authorities must also investigate JJPTR if it had violated any financial institution legislations involving collecting cash deposits, as only licenced financial institutions are permitted by law to receive money deposits from the public, and even then, the cash or cheques or online transfers are deposited into an individual’s personal account or the NGO or corporate body’s account he/she is authorised to be signatory of.

Apprehend the culprits and refund all existing deposits quickly. If necessary, freeze all of JJPTR accounts immediately.

Enact new laws against get-rich-quick scams

Meanwhile, looking at the worsening situation which has victimised many naive and innocent members of the public, Wanita MCA also urges our Attorney General Chambers to draft a new Bill to address this issue of get-rich-quick schemes and white collar crimes. It is crucial as to avoid more innocent people from being victimised.

Meanwhile, the Attorney General Chambers should also draft a new Bill to address this issue of get-rich-quick schemes and white collar crimes.

When approached by anyone to participate in any scheme offering much higher interest rates than financial institutions or quick return of investments, depositers should immediately be suspicious. Clear any doubts of any company by checking with Bank Negara Malaysia’s list.

Honest business is the best business

There are many types of businesses budding entrepreneurs may delve into. Nevertheless, Wanita MCA advises them to ensure their business operations are honest, keep to the law, and not engaged in white collar offences. When depositers are swindled off their hard-earned savings, including life savings, families can be broken or other tragedies can befall, and suddenly, the elderly may find themselves struggling to find a job or just to survive day-to-day. Hence, the full arm of the law must come down hard on these white collar criminals.  

Datuk Heng Seai Kie
Wanita MCA Chairman
Adviser of Prime Minister Department (National Unity & Integration) 
Deputy President of  the National Council of Women Organisation (NCWO)

-MCA online-