Collect Illegal Community Funds, OJK Asks Ahmad Rafif To Take Responsibility For All Losses

Financial Services Authority (OJK) (ANTARA)

The Task Force for Eradicating Illegal Financial Activities (Satgas PASTI) of the Financial Services Authority (OJK) has stopped capital market activities carried out by Ahmad Rafif Raya.

Ahmad Rafif Raya is indicated to have violated the provisions of Article 237 of the Financial Sector Development and Strengthening Law (UU P2SK) in making investment offers, collecting and managing public funds without the permission of the Financial Services Authority (OJK).

On July 4, 2024, the PASTI Task Force summoned Ahmad Rafif Raya through a virtual meeting to ask for information and clarification regarding the news of his problems in managing funds amounting to Rp71 billion.

The Secretariat of the Task Force for the Eradication of Illegal Financial Activities, Hudiyanto, said that his party ordered Ahmad Rafif Raya to stop his activities in offering investment, collecting and managing public funds without permission in accordance with applicable laws and regulations.

"Responsible for the losses of the parties who have entrusted their funds to invest and return all the funds that have been deposited by the parties," he explained in an official statement, quoted on Sunday, July 7.

The PASTI Task Force also ordered Ahmad Rafif Raya to cooperate with the law enforcement process on investment offering activities, collecting and managing public funds without such permits.

"Ahmad Rafif Raya has expressed his willingness to accept the decision of the DEFINITE Task Force meeting and it is stated in a statement signed on stampai dated July 4, 2024," said Hudiyanto.

Therefore, the PASTI Task Force recommended the Indonesian Ministry of Communication and Information to block websites and social media related to Ahmad Rafif Raya and PT Saat Buying Shares that make investment offers.

OJK will also issue certain action orders to Ahmad Rafif Raya in the form of temporary suspension of the permission of the Deputy Investment Manager (WMI) and the Deputy Intermediary for Stock Traders (WPPE) on behalf of Ahmad Rafif Raya until the law enforcement process is complete.

"OJK will carry out the handling process in accordance with the provisions of the applicable laws," said Hudiyanto.

Hudiyanto said that currently OJK is developing a more credible and trusted capital market. People who want to invest in the capital market are advised to always ensure their legal aspects and avoid investment offers by entrusting funds and promising fantastic profits.

"Therefore, the public is expected to be able to check the complete licensing owned by individuals, as well as companies that carry out activities in the capital market. The completeness of the permit includes WMI, WPPE, Investment Advisor, Investment Manager, and Stock Company. The list can be asked and confirmed to the OJK," he concluded.