Man tried in investor scam

Tue, 22 Jul 1997, 00:00 WIB | Source: JP

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)

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