OJK and Polri Raid Mirae Asset Sekuritas Over Suspected Capital Market Offences

Jakarta — The Financial Services Authority (OJK) together with the Coordinator of Supervisory Investigations for Civil Servants (Korwas PPNS) of the Indonesian Police’s Criminal Investigation Agency (Bareskrim) raided the offices of PT Mirae Asset Sekuritas Indonesia (MASI) in the Senayan area of Jakarta. The raid was conducted on Wednesday (4 March 2026) from around midday, with about a dozen OJK investigators carrying boxes of evidence. ‘Today, we from OJK and Bareskrim Polri are carrying out investigative activities, namely a raid at PT MA. We are accompanied by Bareskrim, so Bareskrim assisted us in carrying out the raid,’ said Inspector General Daniel Bolly Hyronimus, Executive Director of Financial Services Sector Investigations at OJK, at the scene.

Hyronimus stated the raid relates to a case of phantom stock trades conducted by Mirae Asset Sekuritas. The case involves ASS as the beneficial owner of PT BEBS and MWK as former Director of Investment Banking at PT Mirae Asset. Moreover, OJK has designated PT Mirae Asset as a corporate suspect.

‘Tersangka yang sudah kita lakukan pemeriksaan dan statusnya kita naikkan itu ada dua, yaitu Saudara AS dan Saudara M. Sekarang dalam proses penyelesaian kasusnya,’ he said. ‘Sedangkan kasus korporasinya masih berjalan.’

The modus operandi involved insider trading, manipulation of the IPO process, and phantom trades in the period 2020–2022.

‘Artinya membeli saham berdasarkan informasi dari orang dalam. Ini dalam pasar modal tidak boleh. Kemudian melakukan perdagangan semu, ini pun tidak boleh,’ Daniel explained.

Daniel cited illegal gains from insider trading amounting to Rp 14.5 trillion. A total of 2 billion shares were frozen.

‘TNilainya total semua Rp 14,5 T. Rp 14,5 T itu dari saham-saham yang kami freeze, itu sekitar ada 2 miliar lembar saham dengan harga saham sekitar Rp 7.000 sekian. Yang totalnya Rp 14,5 T itu kami freeze. Sementara tidak boleh dilakukan perdagangan,’ he added.

ASS and MWK, according to Daniel, have been designated as suspects by OJK. They are accused of violating Article 104 in conjunction with Article 90, subsidiary Article 107 of Law Number 8 of 1995 on the Capital Market.

‘Kegiatan hari ini menindaklanjuti penyidikan yang sudah berjalan. Dan yang dua orang tersangka sudah, berkasnya sudah selesai, sudah kami kirim ke kejaksaan, tinggal menunggu P21,’ he said.