KUALA LUMPUR: Controversial foreign exchange trading company JJ Poor To Rich (JJPTR) founder Johnson Lee and two others were arrested today.
Federal police Commercial Crime Department director Datuk Acryl Sani Abdullah Sani said Lee along with his right-hand man and personal assistant were arrested in an operation at 4.30am in Petaling Jaya.
"All three detained will be brought to Klang magistrate court for remand," he said.
Those detained aged between 28 and 29.
The raiding team also seized a Honda Accord, five mobile phones, documents relating to JJPTR investments, cheque books, bank cards and RM20,936 in cash.
On Saturday, 15 employees and four investors were picked up from eight different locations, including offices and homes, which the police believe is used by the syndicate as its operating premises.
The raid by the police was conducted with enforcement teams from Bank Negara Malaysia, National Revenue Recovery Enforcement Team, Inland Revenue Board and Companies of Commission Malaysia.
It was reported two police reports have been lodged against the company and early investigation has revealed that the company claimed that the investment was a forex-based business.
Penang-based JJPTR came under fire recently after investors complained that they have not been receiving their scheduled monthly payment.
It was reported that the company's founder, Lee, had claimed that the company's accounts had been hacked, which have resulted in losses of US$400mil.