With my semi-blunt brain, I hope to bring on JYPTR (Jiao Yu Pu Tong Ren 教育普通人), or “Educating the Ordinary Men” in hope of instilling in people some common sense in tackling life.
First and foremost, get-rich-quick theory is non-existent anywhere under the sun, not with Warren Buffett, Bill Gates, Jack Ma, Li Ka-shing, nor Robert Kuok. None of them has made their millions by way of any get-rich scheme.
If you care to find out, even those relatively well off friends around you have no fast track formulas to their wealth.
According to JYPTR teaching, there are many rich men and women in this world, while many others are on their way to achieve this end. But, this journey is invariably long-winding and tough, and you need to plod on with determination and wisdom before you earn your wealth, often after surviving countless of setbacks and failures.
Amazon.com founder Jeff Bezos can tell you his success has stemmed from the much longer time he has put in vis-à-vis his competitors. While his competitors are only willing to invest for three years, he is prepared to do it for seven, and claims the ultimate triumph.
As an ordinary man, if you think you can strike it rich in a year or a month, you must be daydreaming!
Because you believe in instant wealth, you have helped create this young millionaire, or another crook calling himself “the world’s future richest man”.
Secondly, there is actual production value behind every success story. We have Apple products behind Steve Job’s success; Warren Buffett is rich because of his exceptional acumen in investing in high-value companies; Jack Ma has made it because of digital economy while Wang Jianlin creates his wealth through countless of highrise towers he has built.
But, the young man has told the investing public in Malaysia, if you join my program, give me a small sum of money and sponsor more people to join as downlines, I’ll promise you immeasurable wealth.
He nevertheless has not told you how your money will be used for investment so as to give you interests many many times higher than what commercial banks will ever offer.
JYPTR tells us the truth: this guy knows nothing about investment, and may not even have invested the RM1,000 you hand in to him with the promise of 20% monthly returns. You bring in two more to join next month, each investing RM1,000, and he will give you RM200, the remaining RM1,800 going right into his pocket.
Indeed you will see some initial returns, but as the fish get fewer in number, there isn’t cash any more to roll, and this whole thing will come tumbling down.
This kind of money game, they called Ponzi scheme, was first played a century ago elsewhere in this world, and you still believe it today?
Thirdly, no one is going to rescue the pu tong ren (ordinary men).
The young man told you, you have been working like a horse for 360 days a year and not getting any richer. I will come to your rescue.
He is not helping you, but you are, sadly, fattening him, making him a young multi-millionaire, or “the world’s future richest man”.
He will tell you his online forex market password has been hacked and RM500 million is now gone. He will then ask you to give him a little time to restructure and put things in proper order again.
Do you believe a young man without any financial background or forex dealing experience will know how to invest in forex markets and handle billions of fund?
JYPTR tells you that forex transactions in financial markets are the birthright of top-notched professionals. Lest we forget, during Mahathir’s time he instructed the central bank, with its well-seasoned financial top guns, to invest in foreign currencies, costing the country RM10 billion in financial losses.
But this young man will tell you he can help you make millions in forex markets. What a joke!
Your best bet to riches is your own hard work.
Fourthly, JYPTR is not kidding you. It will only help you pick up some common sense and sanity, and put in real effort to earn your every dollar. It is the unchanging doctrine that will never fool anyone.
– Mysinchew
SEVERAL years ago, a young man got on the internet to learn about foreign exchange and trading shares and investment.
Six months later, he started a binary option investment scheme, which failed miserably.
Undeterred, he decided to pick up a little risk management. So he got a job in a casino in the United States. Around the same time, he signed up for a course to learn more about forex and the stock exchange.
In 2014, he returned to Malaysia, a self-taught and “well-armed” young man with some ideas on investment schemes.
In 2015, he met a trader and the JJ Poor to Rich scheme was born. An unlicensed forex trading scheme, JJPTR has drawn thousands of investors with the promise of a 20% monthly return, but is now in danger of collapsing like a stack of cards, leaving only a RM500 million hole and a host of questions, starting with, where is Johnson Lee?
This is his story. Or the story that he tells everyone anyway.
It’s not quite rags to riches but somewhere in between. It’s also hard to verify any of it because the man is nowhere to be found.
'Money back guarantee'
Since news broke that JJPTR is in trouble, the 28-year-old Johnson has been communicating with his investors through voice recordings on his Facebook page.
In his latest message, he pledges to return the money investors say they have lost.
“I can guarantee that I will repay the money. How long? It will be faster than the bank’s fixed deposit. This I dare guarantee. Every sen will be returned."
Lee then talks up a new investment plan and assures the investors he is getting professionals to find out who is causing problems for JJPTR and its investors.
His voice rings with confidence – the same confidence he displayed at an investment seminar in Penang last year that had impressed Simon, an investor from the northern state.
“Johnson was finishing his talk when I walked in. I remember hearing him speak good English. Very smooth,” said Simon, who works in a factory. He recalled that Lee was born in the United States and could also speak Mandarin fluently.
The Malaysian Insight checks find out that Lee is single, lives in George Town, and has some 12,200 Facebook followers.
On his Facebook page, he introduces himself as “an investor and a marketer... But the most important is become a good boss to change people’s lives! (sic)”
There are pictures of him posing with others at the opening ceremonies of JJPTR branches. Some show him speaking at seminars.
On jjptr-global.blogspot.my, Lee supplies the information that he was born in California in 1989, and that he had not been able to get into a Malaysian university because he had failed Bahasa Malaysia, even though he had scored good results in Mathematics and Science.
As such, Lee's parents had sold their house in Malaysia to send him and his sister to study in the US. It is unclear if he completed his studies.
It’s also a puzzle why thousands of Malaysians were willing to put their money in a scheme run by a young man with no finance or banking experience. Perhaps it was greed, for some. For others, it might have been an opportunity to make some spending money.
Breaking even against long odds
Simon, who is in his 30s, said he was not too worried, unlike other JJPTR investors who were now afraid they would not be getting their money back.
“I broke even earlier this year,” Simon said.
He said he invested US$1,000 (RM4,450) for which he received U$200 a month in returns as guaranteed.
In five months, he had got his capital back.
“The method is like this: you buy at RM4.60 per dollar, and sell at RM4.20. So if I want to withdraw my investment now, I get RM4,200.
“But with the problem JJPTR is facing, I think they are paying the newer investors first. Those like me are not the priority since we have broken even,” he said.
Too good to last
The guarantee of a 20% return each month attracted many to the scheme, although there is no telling exactly how many and how much.
Simon said he knew of couples who started with US$1,000 and topped up after getting their capital back in returns.
“I heard of husbands and wives whose combined investments are worth five figures now. They started investing right after JJPTR was launched in 2015 and they continued to top up.
“You can top up after you break even. But only up to four times. Maybe it is five times now. I can’t remember the terms and conditions offhand,” he said.
As may be imagined, the scheme spread best through word of mouth. Those enjoying regular returns invited relatives and friends to get on board.
Simon convinced three aunts, two uncles and a cousin to invest in the forex scheme.
But because they did not invest too much, said Simon, they were not overly worried by the news that JJPTR had imploded.
“(They invested) Just a few hundred dollars. But I know some people are worried. I have a colleague playing this money game and she looks worried. I think she put in quite a bit.”
The more, the merrier
Simon said investors earned a commission, a small percentage that he was unable to recall, when they recruited others to join the scheme.
He learnt about JJPTR from a factory manager last year. Many of those working in the factories were talking about it, he said.
“You usually learn about such things from people in your line of work. Many people working in factories have been worried about their jobs and the rising cost of living.
“The economy hasn’t been very good. Jobs are not as secure as before. Bonuses are cut, and salary increases are so little they are almost meaningless.
“So when people hear of these schemes, they will invest.”
Johnson Lee was counting on the guarantee of a 20% montly return to reel them in.
He knew that many Malaysians would consider the initial investment of US$1,000 to be a relatively small sum and thus, low risk.
More importantly, he knew that most of the investors wouldn’t be concerned about his back story until it was too late. – April 27, 2017.
UNABLE TO BEAR THE GLARE OF HIS SON’S BAD PUBLICITY, JOHNSON LEE’S FATHER GOES ON LEAVE
JOHOR BAHRU – Lee Thean Chye, Southern University College acting administration chief cum head of the university’s Entrepreneurial, Incubation & Career Center, has taken a one-week leave from the university with effect from yesterday to facilitate the investigation into his alleged involvement in JJPTR scam.
Lee is the father of JJPTR’s founder Johnson Lee.
When contacted by Sin Chew Daily, SUC vice chairman Mok Chek Hou confirmed that Lee had applied for leave after speaking with SUC principal and president Dr Thock Kiah Wah yesterday afternoon.
Mok said, “Lee reported to work as usual yesterday, but decided to take a one-week leave after speaking with the principal in order to facilitate the investigation.
“The board of directors has instructed SUC authorities to investigate Lee’s alleged involvement in JJPTR and to discuss the investigation report on May 5.”
On whether Lee was reported to hold some 850,000 shares of JJ Global Network, Mok said, “It has been reported in the media and I don’t have to repeat it here.”
– Mysinchew
Mok said, “Lee reported to work as usual yesterday, but decided to take a one-week leave after speaking with the principal in order to facilitate the investigation.
“The board of directors has instructed SUC authorities to investigate Lee’s alleged involvement in JJPTR and to discuss the investigation report on May 5.”
On whether Lee was reported to hold some 850,000 shares of JJ Global Network, Mok said, “It has been reported in the media and I don’t have to repeat it here.”
– Mysinchew
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