Breaking: OJK Raids Securities Firm Office With Initials M in Treasury Tower

Jakarta, CNBC Indonesia — The Financial Services Authority (OJK) conducted raids on the office of a securities firm with the initials PT MASI located in Treasury Tower, in the Sudirman Central Business District (SCBD), Jakarta, on Wednesday 4 March 2026, as part of a law-enforcement process into alleged criminal acts in the capital market. For information, a number of securities firms with offices in Treasury Tower include Mirae Asset Sekuritas Indonesia, NH Korindo Sekuritas Indonesia, KAF Sekuritas Indonesia, Buana Capital Sekuritas, RHB Sekuritas Indonesia, and Kiwoom Sekuritas Indonesia. This action represents a firm step by OJK to safeguard integrity, transparency, and public trust in Indonesia’s capital-market industry. The search conducted by the OJK Investigation Team was part of the development of the investigation into alleged manipulation of material information that violates Article 104 in conjunction with Article 90 subsidiarily Article 107 of Law No. 8 of 1995 on the Capital Market, relating to the failure to disclose the affiliated party receiving fixed allotment in an initial public offering (IPO) and the submission of IPO fund-use reports that do not reflect actual conditions. The manipulation of reports and information is thought to involve the securities firm. In addition, investigators found alleged dummy transactions as regulated by Article 104 in conjunction with Article 91 of Law No. 8 of 1995 on the Capital Market, comprising transactions between affiliated parties involving seven corporate entities and 58 individual nominees, executed by six operators under the suspect’s control. The series of transactions is believed to have caused BEBS share prices in the regular market to rise significantly, by around 7,150 percent. The alleged capital-market crimes occurred between 2020 and 2022 and are suspected to involve Mr. ASS, as the beneficial owner of PT BEBS, Mr. MWK, the former Director of Investment Banking at PT MASI, and the corporate entity PT MASI, with insiders trading, IPO manipulation, and dummy transactions as the modus operandi. In handling the case, OJK investigators have examined 25 witnesses from PT MASI, PT BEBS, banking entities, nominees, and other related parties. OJK emphasises that in handling financial-sector crime cases, it remains in coordination with the District Court and the Special Crime Unit (Korwas PPNS Bareskrim Polri). Law enforcement will be conducted consistently and sustainably as part of OJK’s commitment to preserving the integrity of the financial-services sector, protecting investor and public interests, and ensuring confidence in the national financial system remains intact.