In light of the rising number of Singaporeans falling prey to scams, I would like to warn everyone of this ponzi scheme from Penang called JJPTR started by this guy called Johnson Lee (https://www.jjptr.com/). Seems like they have a growing presence in Singapore and I do not want anyone to be scammed by these scumbags
They claim to be a forex investment scheme that promises 20% returns every
month and an extra 5% for every additional member they bring in. Also, it
supposedly has operations in Singapore Malaysia Australia Brunei etc with
over 120,000 members and USD$95mil under management. Obviously, this is too
good to be true and you don't have to look far to tell that this is an
obvious scam. Just a few of the obvious red flags are:
1. They are not licensed MAS to conduct any kind of investment management
2. If you look at their website or any of their multiple Facebook pages you
will see what a joke this "investment" is. They conduct business via wechat
and hold their meetings in MacDonald's.
3. It is not possible to make 20% returns monthly consistently, not even the
best fund managers in the world make anywhere close to half of that, let
alone some joker from Penang who can barely speak English.
The truth is they do not do any kind of investment, they simply take the
deposits of the new investors to pay the 20% monthly. That is why they are
offering bonus for recruiting new members to the scheme. Although they might
be paying out monthly now, that just means that there are enough fools
bringing in new money. The moment things go south they are going to disappear
with all the money. Remember they are neither licensed in Singapore nor
Malaysia so if you have money with them it will probably be gone.
Please help share this and spread the message to friends and family so that
no one falls victim to this despicable scam. If anyone approaches you to join
this scheme please report to the authorities. These Malaysian scumbags are
not satisfied with scamming their own people and want to come take
Singaporeans money, hope they get what they deserve.