Financial Authority Fines Bliss Property IPO Case, Bans Benny Tjokrosaputro from Capital Markets

JAKARTA – The Financial Services Authority (OJK) has imposed a series of sanctions in the initial public offering case of PT Bliss Properti Indonesia Tbk (POSA). Total administrative fines amount to IDR 5.62 billion, accompanied by a prohibition preventing Benny Tjokrosaputro from serving as a corporate officer in the capital markets sector.

This action followed OJK’s discovery of violations in the company’s financial reporting and the flow of IPO proceeds, which were deemed not to provide economic benefit to the company.

M. Ismail Riyadi, Head of OJK’s Department of Financial Literacy, Inclusion and Communication, stated that the sanctions represent part of enhanced capital market supervision.

“The imposition of sanctions was made on 13 March 2026 as evidence of OJK’s commitment to further strengthen oversight and enforcement in safeguarding the integrity and public confidence in Indonesia’s Capital Market,” said Ismail in a written statement on Saturday (14 March 2026).

However, the funds were determined not to provide economic benefit to the company and were therefore not eligible to be recorded as assets.

A portion of the funds was found to have flowed to Benny Tjokrosaputro as the company’s controlling shareholder and to other entities related to Benny.

“As Benny Tjokrosaputro is the party responsible for PT Bliss Properti Indonesia Tbk’s proven violation of Article 69 (1) of the Capital Market Law,” explained Ismail.

Following these findings, OJK imposed a lifetime prohibition on Benny from serving as a Board Commissioner, Director, or corporate officer in the capital markets sector. The ban took effect on 13 March 2026.

Gracianus Johardy Lambert and Astried Damayanti, both Directors of POSA, were each fined IDR 110 million.

Gracianus was also fined IDR 1.95 billion alongside other POSA Directors Basuki Widjaja and Eko Heru Prasetyo.

“Gracianus Johardy Lambert, Chief Executive Director of PT Bliss Properti Indonesia Tbk from 2019 to 2023, is prohibited from engaging in capital markets activities for five years from the date this letter is issued,” he stated.