OJK and Bareskrim Polri Freeze Mirae Asset Shares Worth Rp14.5 Trillion

Jakarta – The Financial Services Authority (OJK) has involved the Indonesian Police’s Criminal Investigation Department (Bareskrim) in a raid at the Treasury Tower building, District 8 SCBD, Kebayoran Lama, South Jakarta, on Wednesday, 4 March 2026. The search focused on the offices of securities firm PT Mirae Asset Sekuritas Indonesia (MASI).

Executive Director of the Financial Services Investigation Sector at OJK, Daniel Bolly Hyronimus, said the raid was conducted in relation to investigations into alleged manipulation of initial public offerings (IPO) and violations in the capital market. The shares in question relate to PT Berkah Beton Sadaya Tbk (BEBS).

“We, from OJK and Bareskrim Polri, are conducting investigative activities, namely a raid at PT MASI. Bareskrim Polri is accompanying the raid,” Daniel said after the search in SCBD, South Jakarta, on Wednesday, 4 March 2026.

Daniel explained that the case involves Asep Sulaeman Sabanda (ASS), the former director of investment banking at PT MASI. “From the investigations, the company is believed to still be involved in practices that violate the provisions of the capital market laws,” he said.

The modus operandi of the case involves IPO manipulation and wash trades that occurred during the 2020-2022 period. Daniel noted that OJK has named ASS together with MWK as suspects. The two are charged under Article 90, subsiding Article 107 of Law No. 8 of 1995 on the Capital Market.

In the course of investigations, according to Daniel, OJK and Bareskrim Polri have forwarded the case files of the two suspects to the public prosecutor (JPU). “We have completed the case files for the two suspects and have sent them to the Attorney General’s Office. We are now awaiting P-21,” he said.