Man tried in investor scam

JAKARTA (JP): A West Jakarta man was charged at the Central Jakarta District Court yesterday for defrauding an investor of Rp 72 million (about US$27,600).

Max Gondo Setiawan, 52, is being tried under Article 378 of the Criminal Code, which carries a maximum of four years imprisonment.

Prosecutor Tony Spontana said Max solicited funds to finance a chemical company with the promise of a 10 percent return on the investment.

The defendant later provided three bank checks, actually owned by another person, to cover repayment to the investor. However, there were insufficient funds in the checking account.

The trial was adjourned until next week. (12)