Mirae Asset Respects Investigation Process by Bareskrim and OJK
Jakarta (ANTARA) - The securities company PT Mirae Asset Sekuritas Indonesia (MASI) respects and cooperates with the ongoing examination, and fully supports requests for data and information required by the law enforcement authorities.
“We ensure that the company’s operations continue to run normally and that services are not affected,” wrote Mirae Asset’s management in an official statement in Jakarta on Wednesday.
As part of the continuing legal process, Mirae Asset received visits from the Criminal Investigation Agency (Bareskrim) of the Indonesian Police and the Financial Services Authority (OJK) regarding clarification and gathering of information.
“This process is a continuation of the development of the investigation into a case that has been ongoing for some time,” wrote Mirae Asset’s management.
Bareskrim Polri together with OJK conducted a search at Mirae Asset’s offices in an office building in South Jakarta on Wednesday, in connection with capital market criminal acts.
Following the search, Executive Director, Investigation of the Financial Services Sector Investigation Team OJK Irjen Pol. Daniel Bolly Hyronimus Tifaona said investigators seized a number of exhibits.
Daniel explained that the period of the case spans 2020–2022 and is, in fact, already at the investigative stage.
The search was conducted as part of expanding the investigation into alleged manipulation of material facts contrary to Article 104 in conjunction with Article 90, subsidiary Article 107 of Law No. 8 of 1995 on the Capital Market.
The alleged manipulation of material facts concerns the non-reporting of an affiliate recipient of a fixed allotment in an initial public offering, and the submission of IPO fund usage reports that did not reflect the actual conditions. The manipulation is suspected to involve a securities company.
In addition, the investigators from OJK also found alleged fictitious transactions as regulated in Article 104 in conjunction with Article 91 of Law No. 8 of 1995 on the Capital Market, involving inter-affiliate transactions involving seven corporate entities and 58 individual nominee entities executed by six operators under the control of the suspects.
The sequence of fictitious transactions is alleged to have caused the share price of PT Berkah Beton Sadaya Tbk (BEBS) on the regular market to rise significantly, by as much as around 7,150 percent.
Daniel disclosed that the illegal gains from this insider trading amounted to Rp14.5 trillion.
From the case, two individual suspects have been named, namely ASS as the beneficial owner of BEBS, MWK as the former Director of Investment Banking at PT MASI, and the corporate suspect PT MASI.