EDCCash Boss Becomes A Suspect In The Stupid Investment Case, Confiscated 18 Cars, Rupiah And Dollars

Head of Public Relations Division of the National Police, Kombes Ahmad Ramadhan (Photo: Antara)

JAKARTA - Bareskrim Polri arrested six suspects in cases of alleged fraud, embezzlement and money laundering using the EDCCash crypto application which was listed as illegal or fraudulent investment.

"Until now, there are six suspects who have been detained and examined at the National Police Criminal Investigation Unit," said Head of the Public Information Division of the National Police, Kombes Pol Ahmad Ramadhan, at Police Headquarters, Jakarta, as reported by Antara, Tuesday, April 24.

The six suspects that have been secured include the CEO of crypto asset platform E-Dinar Coin (EDC) Cash with the initials AY.

Bareskrim Polri investigators have previously received a police report related to the EDCCash case with Police Report Number LP 135 / IV / 2021 / Bareskrim dated March 22, 2021.

Apart from securing the suspects and detaining them, the investigators also carried out a search and confiscation of the suspect AY's house by confiscating 14 units of four-wheeled vehicles, cash in the form of both rupiah and foreign currency, and other luxury items.

"Then the investigators searched and confiscated suspect H's house in Sukabumi, securing 4 four-wheeled vehicles," said Ramadhan.

Ramadhan said that the victims of EDCCash's fraudulent investment had been examined and it was estimated that the number of victims would continue to grow.

"Regarding an update on cases of illegal crypto investment or trade without the permission of the OJK and Bappeti by using the EDCCash application, Kabareskrim will deliver further information in the near future," said Ramadhan.

According to the Investment Alert Task Force (SWI), the EDCCash crypto asset platform has been on the list of illegal investments since October 2020.

The irregularities in EDCCash's activities were revealed after a number of residents in Bekasi admitted that they had difficulty withdrawing their crypto assets and came to the house of EDCCash CEO Abdurahman Yusuf (AY).

Wednesday, April 14th, as many as 12 EDCCash victims came to the Police Criminal Investigation Unit to report the alleged fraud and embezzlement committed by AY. Of the 12 victims, the nominal loss suffered reached Rp. 62 billion. EDCCash is recorded to have more than 70 thousand members spread across Indonesia.