Deception Scheme by Money-Doubling Fraudster in Pancoran Mas, Depok Ends Behind Bars
Pancoran Mas Police Station, Metro Depok Police, has arrested a man with initials LE who is suspected of conducting a fraud scheme involving money and bullion-doubling practices. The suspect was apprehended in the Mampang area of Pancoran Mas, Depok, after defrauding several victims with promises of instant wealth through special rituals.
Pancoran Mas Police Chief Commissioner Hartono confirmed that so far three victims with initials RA, FA and M have filed official reports. The modus operandi used by the suspect involved claims that he could multiply Indonesian rupiah or US dollars and provide bullion through specific rituals.
The incident began in the early hours of Monday, 2 March. Victim FA initially sought the perpetrator’s assistance to facilitate his business. However, the suspect instead offered money-doubling services with promises of fantastic returns.
The suspect demanded that the victim deposit a minimum of Rp30 million with the promise it would become Rp16 billion within 41 to 100 days. As an initial stage, the victim handed over Rp2 million as a down payment.
During the process, the suspect required rituals to be conducted in a closed room. When the lights were turned off, the suspect performed an act that shocked the victim. The victim screamed upon discovering the suspect was naked during the ritual proceedings, which subsequently attracted nearby residents.
Hartono stressed that the suspect faces severe criminal penalties for fraud and counterfeit currency circulation offences.
“The perpetrator committed fraud offences involving possession and spending of counterfeit money, as stipulated under Article 492 in conjunction with Article 374 in conjunction with Article 375 of Law Number 1 of 2023 concerning the Criminal Code with a maximum sentence of ten years,” said Hartono on Friday, 13 March.
In addition to arresting the suspect, police have seized several pieces of evidence strengthening the allegation of counterfeit currency practices.
Police are currently conducting further investigations to determine whether a wider counterfeit currency distribution network exists behind LE’s actions.