Mirae Asset Sekuritas Responds to OJK Raid Over Alleged Stock Manipulation

Jakarta — PT Mirae Asset Sekuritas Indonesia has spoken out regarding an office search conducted by the Financial Services Authority’s investigation team on Wednesday afternoon, 4 March 2026.

Management said it had received visits from the Indonesian National Police’s Criminal Investigation Agency (Bareskrim) and OJK for clarification and the gathering of information in an ongoing legal process.

‘This process is a continuation of the development of the investigation into a matter that has long been under way,’ the Mirae Asset Sekuritas management wrote in a formal statement on Wednesday.

‘We confirm that the company’s operations are continuing normally and that services are not affected,’ it added.

Earlier, OJK confirmed it had searched the Mirae Asset Sekuritas Indonesia offices. The move relates to suspected criminal acts in the capital market.

OJK suspects manipulation of material facts. The allegation breaches Article 104 in conjunction with Article 90 subsidiarily Article 107 of Law Number 8 of 1995 on the Capital Market.

The securities firm is suspected of failing to report a recipient affiliate of fixed allotment in an initial public offering, as well as a funds usage report that does not reflect actual conditions.

Investigators also found alleged fictitious transactions among affiliated entities. The transactions involved seven companies and 58 individual nominee accounts. Six operators executed the transactions under the suspects’ control.

The series of transactions is alleged to have driven the price of PT Berkah Beton Sadaya, or BEBS, on the regular market up by around 7,150 percent.

‘During handling of the case, OJK investigators have questioned 25 witnesses, drawn from PT MASI, PT BEBS, banking sector, nominees, and other related parties,’ said M. Ismail Riyadi, Head of the OJK Department of Literacy, Financial Inclusion and Communications, in a written statement on Wednesday.