Earn your money the right way: no quick buck, get paid only for honest, hard work



Get-rich quick schemes drawing the interest of those who want to make a quick buck but really, there is no substitute in getting paid for honest, hard work

AS a Penangite, I am always asked by my colleagues and friends in the Klang Valley why is it that most get-rich-quick schemes are located in the island state and the investors mostly its citizens.

I have asked that same question myself, since I’ve heard enough stories of relatives and friends who have been entangled in this web of financial crookery.

It’s not something new. It used to be called the pyramid scheme and Ponzi but, like most, it is just another scam. The new term is ‘money game’ and it’s probably called this to warn new participants that there will be winners and losers, like in any other game.

However, no one is listening because most people are merely interested in the quick returns from their investments.

There are some reasons why Penang lang (Hokkein for people) have warmed up to these quick-rich con jobs.

Penang is a predominantly Chinese state and rightly or wrongly, the appetite for risk there is higher. Some may dismiss risk as a euphemism for gambling, but the bottom line is, many of its denizens are prepared to roll the dice.

Given that there are so few police reports lodged against operators, despite the huge number of investors, indicates the readiness of these players to try their luck.

They clearly are aware of the element of risk involved when they lay their money down, but the huge returns override any rational thinking. No risk, no gain, they probably tell themselves.

Making police reports against operators also runs the risk of “investors” getting their money stuck if the accounts of the scammers are frozen.

Risk-taking is nothing new to many Penangites. This is a state with a horse-racing course and plenty of gaming outlets. Is it any surprise then that a spat is currently playing out between politicians over allegations that illegal gaming outlets are thriving there?

One politician believes the state government does not have the authority to issue gambling licences and “to single out Penang also ignores the fact that gambling is under the Federal Government’s jurisdiction. We don’t issue such licences.”

It’s bizarre because no one issues permits to illegal gaming outlets. That’s why they are called illegal.

But there are some fundamental sociological explanations to this fixation on earning extra money in the northern state.

The cost of living has gone up there … and everywhere, too. For the urban middle class, it is a monthly struggle managing the wages – after the deductions – settling the housing and car loans, and accounting for household items such as food, petrol, utility and tuition for the children.

The cost of living in Penang may be lower than that in the Klang Valley, but it is not cheap either. Any local will tell you that the portion of char koay teow has shrunk, although the price remains the same.

But unlike the Klang Valley, where career development and opportunities are greater, the same cannot be said of the island state.

Many of us who were born and brought up in Penang, moved to Kuala Lumpur because we were aware of the shortage of employment opportunities there.

We readily sacrificed so much, moving away from our parents and friends, relinquishing the relaxed way of life and the good food for a “harder” life in the Klang Valley. We paid the price for wanting a better life.

Job advancement means better salaries, but in Penang, where employers have a smaller base, they are unable to match the kind of pay packages offered in KL.

So, an extra few hundred ringgit from such investments does make a lot of difference to the average wage earner.

It is not unusual for many in the federal capital to take a second job to ensure they can balance their finances.

I don’t think many Penangites expect to be millionaires, at least not that quickly, although JJPTR has become a household acronym since hitting the market in the last two years. As most Malaysians by now know, it stands for JJ Poor-to-Rich, the name resonating well with middle class families.

Its founder, Johnson Lee, with his squeaky clean, boyish looks, assured over 400,000 people of his 20% monthly pay-outs and even more incredibly, convinced many that billions of ringgit vanished due to a hacking job.

Then came Richway Global Venture, Change Your Life (CYL) and BTC I-system, among others. And almost like clockwork, Penang has now earned the dubious reputation of being the base for get-rich-quick schemes.

Having written this article while in Penang, I found out this issue continues to be the hottest topic in town, despite the recent crackdowns by the authorities.

My colleague Tan Sin Chow recently reported in the northern edition of The Star that “money games are on the minds of many Penangites.”

On chat groups with friends and former schoolmates, it has certainly remained very much alive.

Tan wrote: “Another friend, Robert, had a jolt when, a doctor he knew, told patients to put their money into such a scheme. A doctor!

“From the cleaners at his office to the hawkers and professionals he met, everyone, it seems, was convinced. None questioned how the high returns could come to fruition in such a short time.”

We can be sure that these get-rich-quick scheme operators will lie low for a while, but the racket will surface again, in a different form and under a different name.

There is no substitute for honest, hard work. Money doesn’t fall from the sky, after all.

BY Wong Chun Wai The Star

Wong Chun Wai began his career as a journalist in Penang, and has served The Star for over 27 years in various capacities and roles. He is now the group’s managing director/chief executive officer and formerly the group chief editor.

On The Beat made its debut on Feb 23 1997 and Chun Wai has penned the column weekly without a break, except for the occasional press holiday when the paper was not published. In May 2011, a compilation of selected articles of On The Beat was published as a book and launched in conjunction with his 50th birthday. Chun Wai also comments on current issues in The Star.

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Money games over for JJPTR! Operator closes shop, founder Johson Lee arrested, demanded!



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JJPTR money game operator closes shop

 

Zero activity: JJPTR’s Bayan Baru office is all quiet following the arrest of the scheme’s founder.

Police set the record straight on founder’s fanciful claims – Nation

Whereabouts of JJPTR founder unknown

GEORGE TOWN: Offices of money game operator JJPTR have reportedly been closed since last Friday following raids by a task force investigating the scheme. There was no sign of employees or investors at its offices in Perak Road, Bandar Baru Air Itam and Bayan Baru yesterday.

Investors too seem resigned to the fact that they will not be seeing their money after JJPTR founder Johnson Lee and two of his key leaders were remanded in Klang. Facebook pages and social media sites promoting the scheme have also gone silent.

Investor Y.L. Ho, in her 50s, said she knew her fate was sealed when the task force raided eight JJPTR premises in Penang and recorded statements from 15 workers and four investors.

She has yet to recoup her RM4,700 capital, and had lost about RM1,600.

“I was told the founder has been remanded. I don’t think I will ever get back my money,” she said.

Another investor, known only as Goh, believes his investment is as good as gone.

“There is no point going to the office to make further enquiries,” he said.

On Friday, the task force team carted away documents and computers from the main office in Perak Road between noon and 5pm.

Besides JJPTR offices, the team also raided another operator Change Your Life’s (CYL) office at Icon City in Bukit Mertajam.

Businessman S.K. Yeoh, who has invested in a few money games like CYL and Richway Global Venture, said he has lost hope of getting his monthly payouts.

“Following the intervention of the authorities, I think my handsome returns will be up in smoke.

“Luckily I have recouped my capital. If not, it could have been worse,” he said.

A money game player, Ben Chow, 35, said many of his friends knew it was a gamble when they decided to invest in the many get-rich-quick schemes.

“Just look at the number of police reports lodged and you will get some hints. Many of my friends know how these schemes work. They will not go to the police.

“They are always on the lookout for new platforms, knowing they can find easy money if they are among the pioneers. If they lose, they would just curse their luck,” said Chow, who invested in BTC I-system and several other money games.

Meanwhile, Penang police chief Comm Datuk Wira Chuah Ghee Lye said they were waiting for instructions from Bukit Aman before taking the next course of action.

“We won’t jump the gun. We will wait and see the outcome of the investigations on JJPTR.

“There is no reason for us to call up investors to record statements, unless they come to us and make a complaint.

“The Inspector-General of Police has given us three months to investigate the matter.

“Bank Negara is playing an active role in the investigations,” he said after launching a blood donation campaign at Tanjung City Marina yesterday.

Comm Chuah said several businessmen had raised concerns over the prevalence of money game schemes when he first assumed the state police chief post in January.

Source: The Star by  tan sin chow, farik zolkepli, adrian chan, m.kumar, loshana k.shagar


JJPTR’s Johnson Lee arrested

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GEORGE TOWN: Police have picked up JJ Poor To Rich (JJPTR) founder Johnson Lee (pic) and two of his right-hand men in Petaling Jaya at around 4.30 on Tuesday morning.

Police are expected to release a statement on their arrest soon.

Previously, Bukit Aman Commercial Crime Investigation Department (CCID) director Comm Datuk Acryl Sani Abdullah Sani said JJPTR have collected investments of up to RM1.7bil up until now.

Comm Acryl said in a statement last week that following investigations on JJPTR, Bukit Aman’s Anti-Money Laundering squad, CCID, Bank Negara, the Companies Commission of Malaysia, Inland Revenue Department, National Revenue Recovery Enforcement Team and Cyber Security raided eight different locations in Penang.

He said that said the eight locations, several offices and residential units, were believed to be used as offices of the syndicate’s operations.

Comm Acryl Sani said following the raid, 15 workers and four investors have been held for documentation process and questioning.

He added that all of them are aged between 23 and 40.

It is learnt that of the 15 workers held 13 are women while three of the four investors are also women.

All of those held are locals.

“Also seized were seven computers and laptops, cash counting machines, hundreds of JJPTR company documents, televisions, CCTV cameras and RM3,300 cash,” he said in the statement.

Comm Acryl Sani said that action to freeze accounts belonging to JJPTR were also being carried out under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

Source: The Star by  farik zolkeplitan sin chow

Johnson and two others remanded

KLANG: JJ Poor To Rich (JJPTR) founder Johnson Lee and two of his key lieutenants have been remanded for three days.

The three men were brought by police to the court complex where magistrate Nik Nur Amalina Mat Zaidan granted yesterday the remand order until Thursday.

The men were led away about 20 minutes later.

Lawyer G. Jaya Prem said his clients were being investigated for one case of fraud.

“It is one report, of Section 420 of the Penal Code, on a sum of RM56,400. The funny thing is: this money went to a company which is not even under the name of my clients,” he said.

Lee and his assistants were picked up by police in Petaling Jaya at about 4.30am yesterday.

Previously, Bukit Aman Commercial Crime Investigation Department (CCID) director Comm Datuk Acryl Sani Abdullah Sani said JJPTR had collected investments of up to RM1.7bil until now.

He said in a statement last week that following investigations on JJPTR, Bukit Aman’s Anti-Money Laundering squad, CCID, Bank Negara, the Companies Commission of Malaysia, Inland Revenue Department, National Revenue Recovery Enforcement Team and Cyber Security raided eight different locations in Penang.

Comm Acryl Sani said following the raid, 15 workers and four investors were held for documentation process and questioning.

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