Former Mirae Asset Securities Director Alleged to Be Involved in BEBS IPO Manipulation Case

Former Mirae Asset Sekuritas Investment Banking director MWK is suspected of involvement in alleged manipulation of the IPO allotment and spoof trading of BEBS shares in the period 2020-2022.

Investigation team Daniel Bolly Hyronimus Tifaona of the OJK’s Financial Services Sector Investigation Unit said they had conducted a search at the Mirae Asset Sekuritas office, located at Treasury Tower SCBD, Jakarta, on Wednesday (4 March 2026).

“Evidence will be selected at the office; there was a lawyer present who knows what items we have prepared. We will select and return those that are not needed,” he said after the search.

In handling the case, OJK investigators have questioned 25 witnesses from MASI, BEBS, banking, nominees, and other related parties.

Besides MWK, the case is alleged to involve Asep Sulaeman Sabanda as the ultimate beneficiary of BEBS, and Mirae Asset Sekuritas as the corporation.

The OJK emphasised that in handling financial sector crimes, it consistently coordinates and collaborates with the District Court and the Korwas PPNS at Bareskrim Polri. Enforcement is conducted consistently and continuously as part of OJK’s commitment to maintaining the integrity of the financial services sector, protecting investors’ interests and society, and ensuring confidence in the national financial system.