What Is JJPTR?
Basically, an investor simply has to open an account with JJPTR, deposit some cash into their designated bank account and every month he will make a returns of 20% on his invested capital.
The Problem With JJPTR
The Fateful Day $500 Million Ringgit Was Lost
Then after a few days of silence, the founder of JJPTR Johnson Lee finally spoke up.
Johnson claimed that JJPTR’s trading account was hacked into and the perpetrator lost all their money in the space of a few hours, while his traders were supposed to be on duty but happened to be sleeping!
He apologized for the problem and claimed that he was silent for a few days as he was trying hard to ‘resolve’ the ‘problem’. He also begged the JJPTR members to rally behind him during this very difficult period and to not call the police as it may result in the other JJPTR accounts being frozen by the authorities.
In case you are wondering, the amount we are talking about is 500 million ringgit or US$110 million.
Let’s examine his claims below. But before that, watch a video of the aforesaid ‘losses’.
Examining Johnson Lee's Claims
To deduce the motivation we have to work backwards from the aftermath – that 500 million ringgit from JJPTR’s trading account was lost, not through theft, but through trading.
The reason why the money could not be stolen directly is because money in a brokerage firm can only be transferred out to a bank account of the same person / company that registered with the broker in the first place.
So the money was lost through trading, according to Johnson Lee and as exhibited by the video above. Essentially he is saying that somebody took the trouble to hack into his trading account and in the space of a few hours lose 500 million Ringgit.
His reason? Somebody hates him and JJPTR so much that they want him to fail and was willing to risk a long jail term by hacking into JJPTR’s trading account, lose a cool 500 million Ringgit and not get anything out of it.
Interesting. Let’s go over this once again.
Somebody hacked into JJPTR’s trading account not to steal $500 million Ringgit but to lose it all through trading. Presumably because somebody hates him and JJPTR so much.
There a few major loopholes with these claims.
#1 – We are talking about 500 million Ringgit, not 500. If somebody can be bothered to take the trouble to hack into JJPTR’s trading account, we believe that the main motivation would be to get the money and not because they hate Johnson Lee and JJPTR so much.
#2 – As seen from the video, the ‘hacker’ literally lost at every single trade. Think of it this way. This fella must be a genius! In Forex, if you are not thinking and you simply set random trades, you stand a 50% chance of the trade going either way because there are really only 2 directions your trade can go. Which mean that you stand as much of a chance to win a trade as well as lose one. It is just not logical and possible that he loses every single trade without having any being floating winning trades!
#3 – Again, we are talking about 500 million Ringgit, not 500. It is a hell lot of money to move about within a few hours! We would love to know which broker can provide that kind of liquidity. Now let’s assume that JJPTR is using some high level broker not commonly known to the retail traders because of the sheer amount JJPTR is trading. In that case, is it not fishy that this high level broker doesn’t flag out the chain of suspicious trades that the hacker was taking? Conversely, if JJPTR is using a common retail broker, there is no way it can provide that kind of liquidity!
What We Think
If JJPTR is indeed a ponzi scheme, we believe that it was very well designed based on several points.
Johnson Lee always appears in in JJPTR events and behaves in a very friendly manner to all JJPTR members. He builds up this relationship with JJPTR investors so that they cannot find it in them to persecute him when he stabs them in the back. After all, how can this nice, friendly person be a con artist? Well, many ponzi schemes have charismatic leaders whose members refuse to believe are scammers. Many victims even continue to defend them long after the law has persecuted these scums of the earth. Such is the power of mind control!
True Case Study – A very famous ponzi scheme disguised as a Baccarat investment company called Sure Win 4 U had a very flamboyant founder who not only dared to show his face, spoke well and was even a Dato (a traditional Malay honorific title conferred by the Malaysian government)!
It takes very little to begin investing with JJPTR. In fact, we believe that this is one of JJPTR’s clever strategies to get in the numbers (more people can invest) and so that investors will not feel the pinch when their money is lost.
Food For Thought – A lot of ponzi schemes bait people to join by setting a very low investment quantum. They do this to make investors feel that it is a very small sum to lose and that if the company is a scam job then it would be asking for more. Incidentally, the really legit investment firms are the ones which ask for much higher investment quantum! After all, the average person who is usually a con artist’s key target market usually will not have a lot to invest. A second way ponzi schemes bait suckers is by giving them a commission for introducing friends to invest. This was precisely how Aureus Capital and Maxim Trader operated.
There are a few kinds of Forex ponzi schemes that have swiped away billions of dollars from unsuspecting investors.
- The unsophisticated Forex ponzi scheme that simply asks investors to park their money with the company. Once it is time to go, the operators simply disappear.
- The more sophisticated Forex ponzi scheme that sets up a phony brokerage firm and pretends that it is an independent establishment – just so that it can convince investors that their money is ‘safe’ with a broker and the operators cannot simply disappear with the money. Well guess what? The broker belongs to the scammers too! Example – Maxim Trader. You may not believe it, but a brokerage firm can be set up easily using the services of this company. Also, MT4 trading records can be changed easily if you own the brokerage firm!
- The even more sophisticated Forex ponzi scheme that throws lavish parties and hires celebrities to desensitize the investors. After all, how can such a powerful company be scammers right? Well, guess who is paying for all these?
- Does it not seem strange that Johnson Lee is begging people not to go to the police when somebody had committed a crime and hacked into the trading accounts? Shouldn’t he be going to the police himself so that whoever the perpetrator is can be tracked down?
Why Is Johnson Lee Not Running Away If He Is Guilty?
- He wants to see how far he can string people along and convince them not to make police reports. Without police reports, the police will not take action and he will get away scot-free with a cool 500 million Ringgit!
- There may be an opportunity for him to do a Part Two! He is now asking for members to rally behind him and to support JJPTR in this time of trouble so that JJPTR can make a comeback. That can only mean investing some more money into JJPTR so that he can trade for everybody again. Already there are many members online pledging to do so for their beloved ‘boss’ Johnson Lee!
- There is also the possibility that there will be a plot twist where he claims later that the money have been recovered in order to gain even more confidence with existing JJPTR members and people contemplating to join JJPTR. Pulling off such a stunt will almost certainly cause an influx of new participants!
This Is What JJPTR Investors Can Do
- Ask Johnson Lee to reveal which brokerage firm JJPTR is registered with. Check online to see if this broker is registered with any reputable security exchange. If not, question Johnson why this broker was used in the first place (because there is a high possibility that the broker was set up by JJPTR in the first place if it is unheard of).
- Assuming JJPTR can prove that it is using a broker and that you are satisfied that this is a bonafide and reputable broker, demand that Johnson logs into the broker’s account directly through the broker’s website (not through the MT4 trading platform because it can be faked!) and ask to see the trading records. If it is a bonafide broker, the trading records results can usually be seen here. Don’t settle for a printout or screen capture because those can be easily faked!
- If JJPTR declines either of these requests, we highly recommend that you make a police report wherever you are. Johnson Lee is trying to dissuade you from making a report by saying that the authorities will likely freeze all the accounts and it will prevent him from being able to use the remaining funds to rebuild the company again. Well, if his claims are genuine, he should not be afraid to divulge which broker JJPTR is using and to show you the trading records from within the broker’s website. And if he is afraid to do so, you should consider reporting JJPTR because the authorities will only take action if people start reporting!
In Conclusion
After sharing all the above, we prefer that you make your own judgment on whether JJPTR is a scam or not. Our thoughts are that we should not assume something is not a con job just because it is a registered business entity, the founder dares to show his face or speaks well, it holds expensive gala events and it doesn’t set a high minimum investment criteria.
Good luck to all the JJPTR victims and we hope that you make the right decision!
Bruce88
everyone including those "investors" knew that was a Ponzi scheme,just praying it won't collapse the near future...LOL
2017-04-25 19:44