Central Java Police Bust Fraudulent Cooperative Posing as Ponzi Scheme, Money Circulation Reaches Rp4.6 Trillion

Central Java Police’s Directorate of Special Criminal Investigation (Direskrimsus) uncovered suspected illegal fundraising practices disguised as a cooperative run by Koperasi Bahana Lintas Nusantara (BLN). In the case, the total fund circulation identified reached around Rp4.6 trillion. Meanwhile, the number of victims is estimated to number tens of thousands across various regions of Indonesia.

Director of Special Criminal Investigation of the Central Java Police (Polda Jateng), Kombes Pol Djoko Julianto said the disclosure of the case began after several police reports received from various regencies in Central Java. In the course of the investigation, BLN is suspected of collecting public funds through various savings programmes with promises of high returns spanning 2018-2025.

“The programmes offered looked enticing and promised large profits in a short time, but they did not have a fund-raising licence from the Financial Services Authority,” Djoko said at a press conference at the Mako Ditreskrimsus Polda Jateng, Semarang City, Thursday (21 May 2026).

One example of BLN Cooperative’s savings programme is Simpanan Pintar Bayar (Sipintar). In that programme, BLN depositors who make a single deposit are promised a return of 4.17 percent. However, the percentage of returns would be delivered to depositors over a 24-month period.

According to Djoko, BLN Cooperative has several programmes similar to Sipintar. The gist is the same: promising depositors multiplied returns.

“In this illegal activity there have been as many as 160 thousand transactions carried out from 2018 to 2025,” Djoko said.