JAKARTA - The Financial Services Authority (OJK) carried out a search at the PT MASI office located in the Sudirman Central Business District, Jakarta, Wednesday, March 4 as part of the law enforcement process for alleged criminal acts in the capital market sector.
This action is a firm step by OJK in maintaining the integrity, transparency, and public trust in the Indonesian capital market industry.
The search conducted by the OJK Investigation Team was carried out in the context of developing the investigation into the alleged manipulation of material fact information in violation of Article 104 in conjunction with Article 90 sub-article of Article 107 of Law Number 8 of 1995 concerning the Capital Market, regarding the non-reporting of the affiliate of the fixed allotment recipient in the initial public offering (Initial Public Offering/IPO) and the submission of the report on the use of IPO funds that does not correspond to the actual condition. The alleged manipulation of reports and information is suspected to involve securities parties.
In addition, OJK investigators also found alleged dummy transactions in accordance with Article 104 in conjunction with Article 91 of Law Number 8 of 1995 concerning the Capital Market, in the form of transactions between affiliated parties involving 7 corporate entities and 58 nominee individual entities, which were executed by six operators under the control of the suspect.
The series of transactions allegedly caused the BEBS share price on the regular market to increase significantly by around 7,150 percent.
The alleged capital market crime occurred between 2020 and 2022 and allegedly involved Mr. ASS as the beneficial owner of PT BEBS, Mr. MWK as the former Director of Investment Banking of PT MASI, and the corporation PT MASI, with insider trading, IPO manipulation, and dummy transactions.
In the process of handling the case, the OJK investigators have examined 25 witnesses, who are from PT MASI, PT BEBS, banking parties, nominee parties, and other related parties.
OJK emphasized that in handling criminal cases in the financial services sector, OJK always coordinates and cooperates with the District Court and the PPNS Korwas of the Criminal Investigation Unit of the National Police.
Law enforcement is carried out consistently and sustainably as a form of OJK's commitment to maintaining the integrity of the financial services sector, protecting the interests of investors and the public, and ensuring confidence in the national financial system is maintained.
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